The Euro Aussie. Here we have a bullish crab pattern, and what is super interesting in Scott Carney's book he in-cooperated aa HOP level because he was noticing that the patterns were not necessarily failing but rather just a lot of people squaring off positions and price continuously slipping lower, but it was nothing like a definitive move. PA would find its footing and reverse. same thing here with the EUR/ AUD, we have PA that slipped all the way down to the HOP and it is like PA hit a wall. look on the 4H and it quite literally looks like price hit this invisible wall and is struggling and cant go any lower. I have terrible entries and am experimenting with this 5/13 ema cross mess. we will see how the product yields. Either way this pattern potentially has some great R/R. we are playing at the HOP of tthis crab pattern. we will know which way this pair will go becasue with Crab patterns price action becomes volatile so seeing a massive candle up or down will give us an indication of where this thing is headed.
Trade active:
After a strong day today the trade is active!!!
Comment:
still in this trade after a month of holding. Price has been trading in a channel upward. it is almost like it is consolidating upward. we will see what happens. trade is still active and in a profit at the moment. (not by much though LOL)
