KlejdiCuni

GBPJPY: Potetial Bullish Bat & Crab Pattern

FX:GBPJPY   British Pound/Japanese Yen
218 3 8
11 months ago
On the daily (long term perspective) we have a potential Bullish Bat & Crab Pattern completion where the CD leg of the Crab is completed inside the PRZ of the BAT pattern .
11 months ago
Trade active
11 months ago
Trade closed: stop reached
cperezmontilla
11 months ago
very good analysis, I saw the bat but I didn't see the crab inside, i'm bearish at the moment your idea give me a better idea where to take profit, thank you.
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KlejdiCuni
11 months ago
Thank you for your support. With PRZ I intend the green zone in the graph, that most of the time is a zone that is tested after the Advanced pattern is completed. In this case the CD leg of Crab (red pattern) is completed in this green zone.So we have some scenario:
1- PA may complete the BAT and reverse
2- PA may complete the BAT and CRAB too and then reverse
3 -PA may test the entire zone in green and reverse
4- PA may go through this zone and closed under the X point of the BAT and invalidate the patterns. (In this case we have to consider a higher probability for lower prices)
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cperezmontilla KlejdiCuni
11 months ago
Yes anything can happen, it can go under X and reverse at 1.13 expansion and do an alternate bat, but the crab in conjunction with the bat give a very precise and likely point where it can reverse, I will be taking some profit on the crab anyway.
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