GBP/JPY - Bearish Crab Pattern in the making
The cross could be making a Bearish Crab pattern on the hourly chart. Only a break below point C = 133.975 would violate the rules of Crap pattern, which say BC leg cannot dip below 88.6%.
The rebound to point D could resume from anywhere between the current level of 136.50 and 133.975.
Leg D stands at 150.60, which is the potential reversal zone as per Crab pattern
The rebound to point D could resume from anywhere between the current level of 136.50 and 133.975.
Leg D stands at 150.60, which is the potential reversal zone as per Crab pattern
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dead2live
hehe "crap pattern" Couldn't resist! Love this pair for its trending patterns. Appreciate your posts, too!
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