For weeks now, I've been watching and waiting and waiting and waiting for the right conditions to present itself in this pair. Since almost 2 months ago, I had been predicting that we were heading for a significant bottom. But it was still falling. You can see on the chart the sell calls that I made on this pair where we grabbed +317 pips on the way down.
Here's my chart that I issued on Feb 3rd which indicated that I was expecting prices to drop down to around 1.61850:
Well, you can see that I was WRONG! Prices actually dropped below that and has seemingly hit bottom at around 1.59000! What a way to be wrong, huh? But what you can also see from that Feb 3rd chart above is that after it hits bottom, I am expecting a LARGE reversal move up. And that could be what is happening now!
Here's the chart I issued on March 14th as to what I was expecting to happen before I could look to BUY: . Compare that to what actually happened. Prices did pretty much EXACTLY what I was expecting and it dropped right down into that yellow strong support zone that I marked.
Here's the chart I issued on March 16th, 2 days later, AFTER it did what I thought it would do and hit the support zone and bounced. This chart showed the setup I was looking to happen to get a BUY call:
It did EXACTLY what I was expecting and when it did, I issued that BUY call.
We're already in on this POTENTIAL LARGE move up having already issued a BUY call @1.59828. And shortly after I issued that call, it took off like a rocket!
But now that it has started on its way up, of course the question is where can you get in? Wait for the pullback which is to come. When the opportunity arises again, we'll be in. PM for details.
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+500 pips. Crab is COMPLETED. But there is still MORE to come! In order to see why I am saying this, you have to be able to see the bigger picture and understand why I pulled the trigger on this trade and why it took off like it did. But for now, it has completed the POTENTIAL Crab that I pointed out but I fully expect that it will be testing that crab's PRZ.