This Deep Crab entry is around the area of TP2 for the Daily Bullish Butterfly, see the comments below for further details.
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Using the same methods described on my other ideas, i will be using lower time frames to enter this pattern wih a considerably smaller stop. I should be risk free by the time price breaks below the entry.
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As were my concerns in the published butterfly idea, these patterns were too perfectly aligned.
It would appear they were bear traps to give liquidity to the actual bearish move once the short stops were hit.
It would appear they were bear traps to give liquidity to the actual bearish move once the short stops were hit.
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A short stop is effectively a long. These longs are then used as liquidity for the actual bearish move down.
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Managed to get a good entry above the patterns standard entry, I did not have time to go to lower TF's ...
