The projected developing Deep Crab completed almost at the exact price forecasted.
Intra-day this pattern looks interesting. Clusters at 1456 and 1463 indicate these as ideal targets.
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This pattern is developing and will complete around 1451.5
Once complete price is expected to rally up
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The Bearish Deep Crab failed and turned into a Bearish Bat on a higher dimension.
Potentially still some more upside before the initial swing down.
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This time its EUR/GBP
For some reason the fibonacci ratios on mt4 and TradingView does not match.
The scanners running on MT4 says that this crab D point completes at .853xx, but I still decided to share it so be advised
It should still not break below reverse 161.8% (-61.8%)
The Bullish Bat Pattern failed, and target zones have most likely...
I've noticed this price AB=CD, that stretched over 8 months!
The Bearish Harmonic Bat, is most likely turning bullish according to the technicals.
This could very well be the beginning of a long term uptrend!
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The Bearish Harmonic Bat completed at target area and the Deep Crab revealed itself after.
The rising wedge confirms the strength of this pattern.
Price never closed above 127.2%, this also confirms that the Deep Crab is still valid.
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The Harmonic Bat Pattern which was developing (look at the related post) completed at: 1517.82
Trendlines reveal an Ascending Triangle.
Prior to the pattern we see a significant uptrend, in that case the Ascending Triangle indicates that the uptrend trend is more likely to continue.
Profit target for this pattern is 1568.18
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This pattern is complete and confirmed with divergence.
RSI also starting to show higher highs
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“The Deep Crab pattern evolved from two patterns—invalid Bat patterns and a specific type of Crab pattern—that I developed as a further refinement of the basic structure. The Deep Crab is similar to the original Crab pattern, as it is a 5-point extension structure that utilizes exclusively a 1.618 XA projection for the defining level in the Potential Reversal Zone...