EUR/USD Bearish Alternate Crab
A nice Alternate Crab pattern for EUR/USD, however, be
patient before entering as the 200 SMA is still running flat
causing a lot of volatility. Also, beware that later on today
the FOMC will release it's minutes from their last interest
rate decision which should see the usual wild volatility.
Pay attention to the indicated reversal zone highlighted in
grey. Should price CLOSE above 1.2435 then this
would invalidate the pattern.
Trade (RvR ratio 2:1)
Entry: Close below 1.2362/ 57
S/L: 1.24353 (Adjust the S/L when you are in profit)
T/P 1: 1.23268
T/P 2: 1.22482
T/P 3: 1.22151
You can also set T/P 1 at 1.2345 which is point B of the
pattern, however as it is close to the entry it will be hit
almost immediately.
Happy trading
A nice Alternate Crab pattern for EUR/USD, however, be
patient before entering as the 200 SMA is still running flat
causing a lot of volatility. Also, beware that later on today
the FOMC will release it's minutes from their last interest
rate decision which should see the usual wild volatility.
Pay attention to the indicated reversal zone highlighted in
grey. Should price CLOSE above 1.2435 then this
would invalidate the pattern.
Trade (RvR ratio 2:1)
Entry: Close below 1.2362/ 57
S/L: 1.24353 (Adjust the S/L when you are in profit)
T/P 1: 1.23268
T/P 2: 1.22482
T/P 3: 1.22151
You can also set T/P 1 at 1.2345 which is point B of the
pattern, however as it is close to the entry it will be hit
almost immediately.
Happy trading