EverythingForex
Long

TRADE: EURUSD: BUY@1.11660 LONG on cypher + 15M Crab

FX:EURUSD   Euro Fx/U.S. Dollar
1148 2 25
I am now LONG on this pair by way of the completed bullish cypher and now with confirming bullish PA in lower TF having now setup a POTENTIAL bearish crab pattern . However, I don't intend to trade the crab completion as this is a !5M crab which I don't trade on the 15M TF. But I am using the crab as a bullish confirming signal to go LONG. Likewise, I will be using the crab's X point as my stop on this trade. Yes, the stop is very tight so as to minimize the loss. I am doing it this way because the stops on the cypher pattern is pretty large (+90 pips) and I wanted to cut down on that. Should prices go down more and invalidate this crab , then I will be out and waiting for another bullish signal.
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PipUnicorn
a year ago
You mean you'll use X or A? Or that you'll move stops to X asap?
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EverythingForex PRO PipUnicorn
a year ago
SORRY! You're right. My bad. I meant the A point of the crab! Thanks for that catch! Typing too fast and not checking for errors!
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