crab pattern - long we go
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XA = 1864 -1825
After the XA leg in price, the point B is a retracement of between 38.2% up to 61.8%.
In this case, A was a perfect hit with AB to 1825 - 1840; This retracement of XA should ideally be less than 61.8% - exactly what we have here today with retracement around 40%.
Following point B, the next leg, BC can run up to 38.2% – 88.6% Fib ratios of the AB leg. (C should never exceed point A).
We got BC from 1840 - 1828 - 80% retracement - and C did not passed or touched A.
Following the BC leg, price then reverses again (moving counter direction to XA). The CD leg is the longest and usually reverses between 161.8% of the XA leg and an extreme 224.0% – 361.8% extension of the BC leg.
We are currently in this part of the trade - it could take the whole day and even tomorrow for a complete CD leg - what again fits perfect, once Friday is a great day to short it.
I will keep an eye in 1845 and 1855 - strong seller pressure must come around there; we sure can expect price over 1864 - 1888 for completing the pattern; after that a strong down must come.
Stop Loss is very thight at 1828 - under this, this pattern would be invalidated.
After the XA leg in price, the point B is a retracement of between 38.2% up to 61.8%.
In this case, A was a perfect hit with AB to 1825 - 1840; This retracement of XA should ideally be less than 61.8% - exactly what we have here today with retracement around 40%.
Following point B, the next leg, BC can run up to 38.2% – 88.6% Fib ratios of the AB leg. (C should never exceed point A).
We got BC from 1840 - 1828 - 80% retracement - and C did not passed or touched A.
Following the BC leg, price then reverses again (moving counter direction to XA). The CD leg is the longest and usually reverses between 161.8% of the XA leg and an extreme 224.0% – 361.8% extension of the BC leg.
We are currently in this part of the trade - it could take the whole day and even tomorrow for a complete CD leg - what again fits perfect, once Friday is a great day to short it.
I will keep an eye in 1845 and 1855 - strong seller pressure must come around there; we sure can expect price over 1864 - 1888 for completing the pattern; after that a strong down must come.
Stop Loss is very thight at 1828 - under this, this pattern would be invalidated.
Giao dịch đang hoạt động
Currently watching the chart and updating new data for the trade.I have 3 taking profits zones from 1830: 1845, 1855 and 1864 - as this could turn in a bat pattern instead of a crab.
I also keep in mind a Head and Shoulders pattern in formation, with the right shoulder area at 1848 - 1856 - this could finish our crab pattern earlier if the H&S takes over.
Giao dịch đang hoạt động
beautiful, TP 1 is done.We are in a seller zone now; Lets see how bulls will handle it now. I was expecting some little dump after 1845, but none came.
So far bulls are keeping it and heading to 1855.
Giao dịch đang hoạt động
It is show timeWe will soon discover: Crab vs H&S
Above 1856 nothing will stop the bulls.
Bears have their last chance in this 51-56 zone,
it is now or never.
Giao dịch được đóng thủ công
I can see a lot of bearish volume in this 1845 zone.I am a conservative trader, and I rather keep my currently profit than lose it in a possible dump. I still believe Bulls could take over, but I am out of the game with my 1 TP reached.
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