chrystael

LAST CHANCE ON CRAB

Long
FX:EURUSD   Euro / U.S. Dollar
1
if you have not read my lessons on crab please go do it.

dont forget because it is a crab doesnt always mean it will trade the way wanted though will be completed.

looking at this critically, you will see the weekly support and resistance on a small thin horizontal line looking kind of defeated.
but looking at price action there is a divergence which leads to a call option pointing on RSI with d buy divergence too.

in a lower time frame from my experience this set ups mostly trade, but i am not sure of it in a bigger time frame.

all i would say here is wait and see what happens.

on monday at the open of market i traded this and took about 60 pips at the nearest resistance out. trailed stop and got stopped out.


finally, just wait to see what happens in the next 4 hourly 2 candles. and then look for the best option to you and make a decision. for me i will wait for longer time to see what happens around this weekly supports and resistances.


good luck


Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.