GBPUSD - Bearish Crab retest Short

British Pound/U.S. DollarFXCM

Description

⋅ Oct 14, 2022 4:20 AM

A great shorting opportunity for me. I love to engage the crab pattern although to most traders they shy away from it.

There's a retest on this and is great to see a RSI Divergence on this bearish crab.

One of the combo I love to see is a completion of harmonic patterns within supply zone or demand zone or simply a consolidation zone.

Candlestick pattern confirmation is just as important.

p/s pls do not follow blindly

Comment

⋅ Oct 14, 2022 6:28 AM

same setup can be read as Bullish Flag. By 6pm if there's no progress, break close below the support level, I might scrap this trade

Comments

JoeChampion

⋅ Oct 14, 2022 1:14 PM

Excellent overview!

RaynLim

⋅ Oct 17, 2022 4:36 AM

@JoeChampion, Thank You. I'm so sorry for the late reply, busy partying after this trade. Just kidding... Developping new trading ideas in progress.