Here we have a possible bearish crab forming on the NZD/JPY 4h chart.
This post is a based on @lewisglasgow 's previous post on this pair. Different pattern, similar measurements.
This is one may be a long shot, but the price has broken out of the current descending channel that started at the beginning of the year.
The measurements for a valid crab pattern are detailed below.
B: 0.382 - 0.618 ---> (0.618)
C: 0.382 - 0.886 ---> (0.886)
D: 2.24 - 3.618 ---> (2.825)
Final X to D: 1.618 ---> (1.618)
Only time will tell in the weeks to come!
Instagram:
_c_schultheis
This post is a based on @lewisglasgow 's previous post on this pair. Different pattern, similar measurements.
This is one may be a long shot, but the price has broken out of the current descending channel that started at the beginning of the year.
The measurements for a valid crab pattern are detailed below.
B: 0.382 - 0.618 ---> (0.618)
C: 0.382 - 0.886 ---> (0.886)
D: 2.24 - 3.618 ---> (2.825)
Final X to D: 1.618 ---> (1.618)
Only time will tell in the weeks to come!
Instagram:
_c_schultheis
