MRAI: ABCD and Crab Patterns with A Potential Cypher Harmonic
Here we have three patterns signaling a downtrend reversal at the confluence of 2.24, while another pattern signals an uptrend reversal at approximately 5.28.
Firstly, we have a crab pattern as the overall chart pattern converging on the price range of 2.23-2.25. I left this crab pattern off the chart, since I didn't want to clutter things up.
Secondly, we have an ABCD ratio pattern starting on the right shoulder of the overall crab pattern which converges on the price of 2.24.
Thirdly, we have a smaller crab pattern which also converges on the price range from 2.23-2.24. I have included this crab pattern, since it doesn't clutter things up too badly.
This super tight confluence corresponds to a potential cypher pattern which, if valid, would complete at approximately 5.28 (0.786 retracement of the ABCD pattern).
Good luck, trade safely, and let's make that money!!!
Firstly, we have a crab pattern as the overall chart pattern converging on the price range of 2.23-2.25. I left this crab pattern off the chart, since I didn't want to clutter things up.
Secondly, we have an ABCD ratio pattern starting on the right shoulder of the overall crab pattern which converges on the price of 2.24.
Thirdly, we have a smaller crab pattern which also converges on the price range from 2.23-2.24. I have included this crab pattern, since it doesn't clutter things up too badly.
This super tight confluence corresponds to a potential cypher pattern which, if valid, would complete at approximately 5.28 (0.786 retracement of the ABCD pattern).
Good luck, trade safely, and let's make that money!!!