Hello guys ,
First of all sorry guys for this crowded chart but couldn't do it better than this but dont worry i will explain. So lets go !!
FIRST , EURUSD is forming expanding flag in higher time frame , 12H-D,
The light orange Pattern is called Deep Crab, and it will happened before the blue Pattern .
Deep Crab Rules :
AB=0.886 XA leg
CB=0.382; 0.886 AB leg , but i took the 0.76.4 because there are a lot of fib retarcement in that area
CD=1.618 XA leg
Note: we can go long when we reach the C leg is completed(1.04100) SL: 1.03362,, T:1.0800
but of-curs after checking your entry setup and strategy.
Targets are: 0.382;0.618 CD Retracement; i will go with the second target because it matches the second pattern ending !
The blue pattern is called Zero-five Pattern , Rules of Five Zero :
AB=1.13 XA leg
CB=1.618-2.24 AB leg
CD=0.5 BC leg
Targets are: 0.382;0.618 CD Retracement
Note: maybe that last target of Zero-Five patter in the time to go short for long term trade , but its too early to think about it
NOTE : USE YOUR STRATEGY TO TRADE, THIS IS ONLY AN IDEA
Please if you like the idea support me with like or comments if you disagree please leave a comment; i would like to know that i am wrong before i lose money :P
First of all sorry guys for this crowded chart but couldn't do it better than this but dont worry i will explain. So lets go !!
FIRST , EURUSD is forming expanding flag in higher time frame , 12H-D,
The light orange Pattern is called Deep Crab, and it will happened before the blue Pattern .
Deep Crab Rules :
AB=0.886 XA leg
CB=0.382; 0.886 AB leg , but i took the 0.76.4 because there are a lot of fib retarcement in that area
CD=1.618 XA leg
Note: we can go long when we reach the C leg is completed(1.04100) SL: 1.03362,, T:1.0800
but of-curs after checking your entry setup and strategy.
Targets are: 0.382;0.618 CD Retracement; i will go with the second target because it matches the second pattern ending !
The blue pattern is called Zero-five Pattern , Rules of Five Zero :
AB=1.13 XA leg
CB=1.618-2.24 AB leg
CD=0.5 BC leg
Targets are: 0.382;0.618 CD Retracement
Note: maybe that last target of Zero-Five patter in the time to go short for long term trade , but its too early to think about it
NOTE : USE YOUR STRATEGY TO TRADE, THIS IS ONLY AN IDEA
Please if you like the idea support me with like or comments if you disagree please leave a comment; i would like to know that i am wrong before i lose money :P
Note
Guys getting near the end D leg of the first pattern , wait the rally , the price might not revers immediately don't rush your entry .Good luckNote
Sorry Leg C
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.