Note
Caution with longs at trendline resistanceNote
.Bearish crab pattern completed and suggesting the retracement;.Defaul targets for the crab pattern now projected at the weekly and daily fractal resistance (the 38% fib retracement level representing a fall of 1.46% / 163 pips from the most recent 4h fractal resistance printed at 1.11961);
.Wave 4 needs to find support above the weekly/daily resistance levels - the recovering of those fractals will invalidate the possibility of a 5 waves structure;
.IF Wave 5 equals wave 1 = 1.12669;
Note
Inverted head and shoulders default target reached at 200% fib extension.Note
I am a financial market analyst based in Porto, Portugal. I provide market forecasts to a group of professional traders, playing a crucial role in assisting them in making well-informed decisions in the financial markets.
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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.
I am a financial market analyst based in Porto, Portugal. I provide market forecasts to a group of professional traders, playing a crucial role in assisting them in making well-informed decisions in the financial markets.
Related publications
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.