This is Gold at a critical resistance zone.
Firstly we have a bearish crab completing around 1232 - 1235.
Next we have a butterfly completing around 1238.
Lastly, we have a shark which will also complete around 1238.
It depends on which ...
Gold could be completing a bearish deep crab pattern in the coming days.
After rebounding perfectly off a bat pattern, will this deep crab give us another great profit opportunity in the next few trading days?
Deep crab differs from Crab at the B point, where the retracement is much deeper at 88.6%.
This 88.6 retracement usually reacts off the XA 161.8 nicely ...
BABA completed the Bullish Crab Pattern. If you were following my earlier post on BABA (see related posts below),
you would know that I shorted this at the support turned resistance levels. Just closed that trade at the completion of the Bullish Pattern
Now I would see how the market opens tonight, see if there is opportunities to go long on this
Could this be ...
This is a long term type 2 harmonic signal. our 38.2 Fib was hit and now the price is back to the pattern completion area. from here on we can likely expect the price to target the 61.8 fib retracement of the main swing. for the entry and exit criteria of the trade please refer to the main chart. you can take this trade short once the market opens.
See the main chart for entry and the required tp and sl. any updates will be available when needed. please take into consideration the spreads of your broker and integrate them in the entry and tp sl details appropriately. cheers
Pattern is complete however i am awaiting certain technical conformation before going short. i shall update the entry details possibly once the ongoing 4hr candle closes. stay tuned. its a simple type 1 harmonic reaction where we target 38.2 fib as immediate TP. stay tuned