Pound-Yen Bullish Crab
As price here enters consolidation before breaking either support or trend line, we have a crab formation completing at 138.1 as shown on the chart on the left. The chart on the right shows overall direction and activity surrounding the support area. If price reaches the D point in the middle of said area, we will see a bounce to our TP level at 140.5. Price will continue its momentum deeper into consolidation before a break. Remember and keep risk:reward a sound 1:3.
Crab ratios
AB: 0.382-0.618
BC: 0.382-0.886
CD: 2.24-3.618
XD: 1.618
Crab ratios
AB: 0.382-0.618
BC: 0.382-0.886
CD: 2.24-3.618
XD: 1.618
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