FullTimeTrader
Short

USDCAD-bearish crab near long term resistance

FX:USDCAD   U.S. Dollar/Canadian Dollar
1026 16 28
Price is near a strong long term resistance, If it gets to that level we will have a monster divergence visible on W1 chart:
snapshot


Then i expect this crab to work, i will put a sell limit order there.

Best regards.
Yahia.Awes Yahia.Awes
Just broke out the bullflag and looks like not stopping soon.
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Yahia.Awes Yahia.Awes
snapshot
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FullTimeTrader Yahia.Awes
Right, but you see there is a macd divergence also, i expect one more push up forming a double divergence and then a reaction near the PRZ.
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FullTimeTrader Yahia.Awes
I agree with your price projection. This is the nearest trade righ now expecting some reaction near the long term resistance, the retracement may be shallow and the targets area ideal. After the trade is opened i will look the price action closely.
+1 Reply
Yahia.Awes FullTimeTrader
I think that you know what you're doing! Good luck :D
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nice...already shorting for daily gartley btw
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The gartley should work also if the SL is above the long term resistance... Good Luck!!
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Do we Short right now or put a pending order at 1.2820 zone ?
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I prefer to put the pending order at the long term resistance 1.2830
+1 Reply
anish_206 FullTimeTrader
Thanks, just one more thing. In your chart above, it shows the resistance as 1.2824, should the pending order be placed at 1.2821/22 zone (please note im trading at MT4 and price varies by 1 or 2 pips) ?
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This chart is a draft copy of my real account. I prefer the level 1.61 of the crab (1.2831 on my platform). Then you should ADD add the spread from you broker (lest say 3 pips) = 1.2834.
But i think the level 1.2824 is good for an entry to give the price some space
+1 Reply
anish_206 FullTimeTrader
Cool. Thanks a lot. Good job on the analysis. And Good luck with the trade
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Bearish on the pair as well. Your analysis dovetails with mine.
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Nice one, but your XA leg of 1.618 is beyond the 3.618 of BC which is normally the limit,
so is this still a valid CRAB PATTERN?
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FullTimeTrader KingVestment
Hello, the D leg is at 2.24 fib extension of the BC leg, this is how to measure it.........
snapshot
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