UPDATE #2: GBPUSD: Bearish Cypher + Bearish Crab Completed
Ok. The bear crab is completed but not the cypher....yet. Keep in mind that crab patterns tend to complete aggressively and not surprising that prices will move into the crab's PRZ and sometimes deep into the PRZ. I added the crab PRZ here and yes, it is kinda large. but the reason for it is to illustrate that I'm actually looking to the cypher to place my SHORTS. The R:R on right side is for the cypher. Not the crab.
This is to me a STRONG SELL not just because of the patterns but because of a few other factors:
1. oversold RSI
2. prices have reached the previous lower trend line of the prior rising wedge pattern (see Related Ideas) and retesting it.
3. Structure Zone
Good luck!
This is to me a STRONG SELL not just because of the patterns but because of a few other factors:
1. oversold RSI
2. prices have reached the previous lower trend line of the prior rising wedge pattern (see Related Ideas) and retesting it.
3. Structure Zone
Good luck!
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