EURUSD - 2 areas of interest- Short
1HR has the smaller Crab pattern in progress off the 800 EMA (maybe this plays out now)
4HR larger spanned on structure Deep Crab pattern would complete at 618 retrace of Larger swing
Current pattern is in confluence with EMA and 50 retrace Level.
Currently no Divergence but in overbought state, but maybe we see this shortly as we retest pattern high.
1HR has the smaller Crab pattern in progress off the 800 EMA (maybe this plays out now)
4HR larger spanned on structure Deep Crab pattern would complete at 618 retrace of Larger swing
Current pattern is in confluence with EMA and 50 retrace Level.
Currently no Divergence but in overbought state, but maybe we see this shortly as we retest pattern high.
Note
Looking towards second targetNote
No Divergence no trade so far, keep it simpleNote
Strong rejection at the 618 of swing.Second pattern holds more value.
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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.