This is the Crab I found inside the big one, and that one can work as a confirmation sign for the big one that I published yesterday here, just check my latest posts.
Pound dollar it's testing right now a strong resistance zone, that you can see on 240M/Daily TF, and how much the price test this zone the stronger it becomes and ultimately can provide the reversal signal for us, because the completion area aka PRZ of the two Harmonic Patterns are in this area, so the reversal should happen inside of it.
But we should wait for the price test the entire PRZ so we can validate this pattern as a possible opportunity to trade.
And also we must pay attention to the RSI indicator cuz this already in an overbought moment, and also we have a double top pattern.
So folks stay tuned to that and never ever cross the rules.
Rules:
1. Harmonic Pattern Completion (Terminal Bar) - Waiting(We have all the structure complete we just have to wait for the Terminal bar show off itself);
2. PRZ Hit - Done;
3. PRZ Test - Being tested;
4. RSI Reversal Sign - Waiting;
5. Candlestick Reversal Sign - Waiting;
6. Candlestick Confirmation Sign - Waiting;
7. Type-1 Reaction - Waiting;
8. Type-2 Reversal - Waiting;
7. Risk / Reward - 1/4;
8. Risk Management - Applied;
" Whoever has the Son has life;
whoever does not have the son of God
does not have life."
1 John 5:12
Pound dollar it's testing right now a strong resistance zone, that you can see on 240M/Daily TF, and how much the price test this zone the stronger it becomes and ultimately can provide the reversal signal for us, because the completion area aka PRZ of the two Harmonic Patterns are in this area, so the reversal should happen inside of it.
But we should wait for the price test the entire PRZ so we can validate this pattern as a possible opportunity to trade.
And also we must pay attention to the RSI indicator cuz this already in an overbought moment, and also we have a double top pattern.
So folks stay tuned to that and never ever cross the rules.
Rules:
1. Harmonic Pattern Completion (Terminal Bar) - Waiting(We have all the structure complete we just have to wait for the Terminal bar show off itself);
2. PRZ Hit - Done;
3. PRZ Test - Being tested;
4. RSI Reversal Sign - Waiting;
5. Candlestick Reversal Sign - Waiting;
6. Candlestick Confirmation Sign - Waiting;
7. Type-1 Reaction - Waiting;
8. Type-2 Reversal - Waiting;
7. Risk / Reward - 1/4;
8. Risk Management - Applied;
" Whoever has the Son has life;
whoever does not have the son of God
does not have life."
1 John 5:12
Comment:
It's seems we are going to enter in the type-2 reversal, get ready for this second opportunity to short Pound Dollar.