Today we are looking at CAD/JPY on a Daily chart with a potential bearish crab, I'm loving the look of this setup already.
The measurements for a valid crab pattern are detailed below.
B: 0.382 - 0.618
C: 0.382 - 0.886
D: 2.618 - 3.618
Final X to D: 1.618
As you can see from previous price movement our pair has been pushing lower since July 2015 creating a trendline, I would like to see price spike up to hit our trendline and D point completing the bearish crab pattern at 92.000 then stall out before making a move lower.
Want to learn more? Check out my Instagram for additional trading content: @lewglasgow
The measurements for a valid crab pattern are detailed below.
B: 0.382 - 0.618
C: 0.382 - 0.886
D: 2.618 - 3.618
Final X to D: 1.618
As you can see from previous price movement our pair has been pushing lower since July 2015 creating a trendline, I would like to see price spike up to hit our trendline and D point completing the bearish crab pattern at 92.000 then stall out before making a move lower.
Want to learn more? Check out my Instagram for additional trading content: @lewglasgow
📈 Master the Art and Science of Trading: www.sixfigurecapital.com
