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:

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

Best regards.
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?
FullTimeTrader KingVestment
Hello, the D leg is at 2.24 fib extension of the BC leg, this is how to measure it.........
Bearish on the pair as well. Your analysis dovetails with mine.
Do we Short right now or put a pending order at 1.2820 zone ?
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) ?
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
nice...already shorting for daily gartley btw
The gartley should work also if the SL is above the long term resistance... Good Luck!!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out