UPDATE #1: EURUSD: Bear Bat OR Bull Cypher + Adding Bull Crab

FX:EURUSD   Euro Fx/U.S. Dollar
UPDATE #1: "Analysis: EURUSD: LT* Outlook + ST* Bear Bat OR Bullish Cypher"

In the previous post on this pair, I mentioned that if prices were to not complete the bearish Bat pattern abd             trace down along the lines of the bullish cypher pattern, I would look to go LONG upon the completion of the bullish cypher looking to go with my LONG TERM analysis (see Related Ideas: "Analysis: EURUSD: LT* Outlook + ST* Bear Bat OR Bullish Cypher"). Well not so fast just yet......

Due to recent price action, a bull crab has now appeared that would fill BELOW the lower trend line of the ABCDE symmetrical triangle channel B wave by just a little bit. If prices were to stop and reverse at that point, the "Crab Completion Scenario" would still be intact.. However, if prices were to fill this bullish crab pattern and then reverse to hit target 1 and then head back down, then I would start looking more towards prices heading lower and completing the "Gartley Completion Scenario" per my LONG TERM analysis.

Just pay very close attention to the price action as prices come closer to completing the bullish cypher . I will still take LONG positions on the completion of the bullish cypher but will be extra cautious that prices will keep heading lower towards the bullish crab pattern.
Trade Log: http://bit.ly/29AeqnC
Year-to-date Profits: +5,794 pips.
Weekly Best Bets Newsletter: http://bit.ly/2uEvQWF
This Month In Indexes newsletter: http://bit.ly/2tGqpcy
Want results like this? Join us: http://bit.ly/29x4bfM
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out