RECLTD has double top pattern on daily chart and also broken the neckline , It might test neckline which is 98.50, so short from 98.50 will be good idea.Also has Bullish crab whose PRZ is at 87.40. Targets on chart...
Waiting for an indecision candle to engage the trade for a counter-trend trade on CADJPY. At the resistance level 76.60, traders have to observe if the market can break and close above the recent high before hitting the first target.
Well, if you are trading for some time you won't expect the market to maintain the 45degree appreciation forever, at some point there will be a retracement.
If the market break and close below the trendline, I will observe closely on the area of buy zone(blue box) if it is strong enough to hold the support for me to engaged an additional buying opportunity. I'm...
Bullish Crab has check-back and shows a nice setup for a buying opportunity that I've waited for months. On the daily chart there is a bullish bat pattern that has also checked-back.
Let's see how this trade pans out.
Folks, this is my first attempt at charting with Harmonic Patterns.
What I see here is a BULLISH CRAB where the CD is in process and the expected target is between 990 - 1000.
I would like to call out the experts in this field of charting to advice me if my charting is accurate or if there is anything more that I should have considered.
GBP/AUD IS CLOSE TO COMPLETING A BULLISH CRAB PATTERN. THE FACT THAT THE SELLING MOMENTUM IS SUBSIDING ACCORDING TO MACD AND OTHER INDICATORS NEAR THE COMPLETION OF THE PATTERN AND A SUPPORT AREA. I'M 75%-80% CONFIDENT THAT THE PRICE ACTION WILL REVERSE AND THUS GIVE ME A GREAT LOWE RISK TRADING OPPORTUNITY. I THOUGHT I'D SHARE WITH WHOEVER FOLLOWS ME. BY THE WAY...
A bullish crab pattern that has dive past the PRZ level, at this moment I'm waiting for 2 things to happen.
1. Consolidation on the HOP level, with candle confirmation and arrow pointing towards the upside.
Trading towards the target there is 2 trendlines I will take note, a break and close above the trendline is a must when market reaches that level.
A reversal on the bullish bat will set up for an aggressive move towards a trend trading confirmation setup.
If the 1-hourly candle breaks and close below the support level of 107.81, I will then be waiting for a bullish crab counter-trend trading opportunity.
A complete bullish crab pattern has emerged out of GBPUSD. Some see this as an opportunity for a bullish run for this pair. In comparison to the Euro, I'm certainly more optimistic on the UK Pound than Euro.
Euro is too big of a continent in times like the virus. I will be waiting for an excellent buying opportunity for this pair.
With coronavirus pandemic, it has caused great damage to Europe, thus causing one of the greatest depreciation that we have lived to witness.
Right now, the market double bottomed with RSI Divergence on EURUSD at the HOP level. It might be a great opportunity for bold countertrend trade to head in for a shot.
A bullish crab setup with an AB=CD equal distance movement and Bullish Bat pattern on the M15 just sweeten the deal of this trade setup. For a more precise entry, traders can wait for M15 chart for a candle confirmation before engaging the trade.