Bearish Crab
Nifty : Let's Ride the Waves...Happy Monday Friends !
Probably,few have Monday blues but we are the ones who wait for Monday...This particular post is kind-of educative analysis to determine overall view of the markets purely based on prediction from my experience.
Let's check our surfboards right away & get it ready to surf along Nifty waves...
Next resistance level for Nifty around 8800's to 8850's,lets keep a note of this zone will be used later in analysis.
The above chart has two types of Elliott wave counts (nothing complex, simple wave counting only). Wave Type-1 starts @ 8520's & Wave type-2 @ 8540's. In both wavecounts Nifty has completed Wave-2 and now moving along Wave-3 where it's kinda consolidating forming symmetrical triangle pattern. Now we need to look for wave 3 end, check the fib extension levels on Wave-1 for both type-1 & type-2, Fib extensions 1.618 of Wave-1(Type-1) & Fib extensions 2.0 & 2.24 of Wave-1(Type-2) ends up in our marked zone 8800-8850,so Wave-3 will end in this zone.
Wave-3 is biggest wave, so what if we get a chance to ride the wave ? Yes, we do have a chance with the symmetrical triangle which we have noticed earlier.Considering that an upper breakout happens in Nifty, we will ride the bulls up to our zone 8800. Now,please take a look at chart again what do we see ? Bearish Crab...coinciding with wave-4, lets remove our Bull shirts and dress up as Bear's till next support in Nifty which is 8700.Then back again to wave-5 upwards to 8900's. So here we are planning for all blooming rosy scenario of 500pts in Nifty.
If someother priceaction happens in Nifty other than our all rosy scenario, re-analyse the charts and enter based on confirmation from your tradeplan. Never enter on hope that as we did analysis,Nifty will follow our path.Everything goes well, we will pocket 500pts in next 20 trading days,probably around Sep 20's.With RBI Governor's appointment announced,if market takes it as positive we will get breakout from this triangle.
The crux is to enter Wave-3 of Triangle breakout, Wave-4 on Bearish Crab and Wave-5 on simple pullback system.There is another post I did on BankNifty based on Elliott's in-line with this Nifty analysis,check it out. I hope this post is really informative on how to do an analysis n confirm your entry points.
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Nifty : Bearish Crab Pattern - Risky setupHi Guys,
Trading sharks n crabs are the most risky patterns bcos its not like other patterns where we can expect a support/resistance around D completion. Crabs will always have their D legs extended way beyond to 1.618 and sometime continues their move upto 2.24 extension levels. So if you really ok with the risk enter the trade with proper stops, Crabs are as much as rewardable though it has high risk. Better I suggest to wait for an hour or later after market opening to get bearish confirmation in Nifty before entering the crab setup
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Happy Trading !!
AUD/JPY - Bearish CrabMake sure to keep this one on your watch list, here we have AUD/JPY on a 1h chart with a bearish crab.
As you can see we have been trading within a range since the Brexit, creating multiple layers of support and resistance. Price is now heading towards our trendline for the third time, I'll be looking for a break with price moving straight towards our D point with a potential sell off in our reversal zone.
I will be going short from around 79.200 all the way back down to our trendline, we shall see if price continues to move lower or bounces. I'll be looking for additional analysis on the shorter time frames for an entry point, as always feel free to share any complimentary ideas and leave your opinion on this pair below.
Nifty (Short): Bearish Crab Pattern & Double TopBearish Crab Pattern Completion
Market is consolidating for past two days
Nifty has Double top formation near Crab Completion
Though it took out my stops on previous trade, we got another chance to enter at more better spot with Double Top.
While I am posting this its forming bearish doji, enter this trade after the current candle closes in Bearish mode
We are targeting around 7900's (300 points) , so 100 -150 point stops ( 8300;s) won't do much damage.
But if you are very conservative trader, Please dont risk.
T Bearish CrabWhen I see BIG BEARISH PATTERNS ACROSS THE BOARD as this chart of a Bearish Crab in AT&T (T), I am defensive! Many others in Dow Industrials!
NZD/CHF - Bearish CrabToday we are looking at NZD/CHF on a 4h chart with a potential bearish crab, I'm loving the look of this setup already.
The measurements for a valid crab pattern are detailed below.
B: 0.382 - 0.618
C: 0.382 - 0.886
D: 2.618 - 3.618
Final X to D: 1.618
As you can see from previous price movement our pair has trading within a zone, I would like to see price push out of this area to hit our D point completing the bearish crab pattern at 0.70000 then stall out before making a move lower.
I am aware there are other harmonic patterns shaping up within the same chart such as a bearish bat but this is the one I'm watching.
...and a #CupAndHandleBeside these 2 harmonic pattern there is a nice CupAndHandle pattern with a target above 1.18 :)
GBPCAD bearish crabAfter a double bottom formed above 1.85, there is a pretty good chance that PA will make the break of daily trendline and continue above 1.88. Should this happen look for bearish crab completion above 1.91. Failing to do so, a visit to 1.85 lows is very likely.
Since WTI price has a great impact on CAD, drop in oil price would weaken CAD and longing GBPCAD would be the choice.
Retested daily breakout, looks bullishAlthough SCCO completed the bearish gartley, the pullback tested the daily breakout. Should keep above the daily trendline and go for a new high. This move is playing on weekly double bottom so very likely for bullish continuation.
Strong resistence cluster around the 30 mark, supply. If this breaks look for 35.63 harmonic target on bearish crab.
SPX500 BearishCrabSPX completed bearish crab pattern May 2015 and is a short ever since into the October 2007 highs at least. Calling a drop of 26% at least to first target
bearish deep crabBearish deep crab is formed, and rsi in overbought teritorry, trade idea with a good r:r. Good luck!
CAD/JPY - Bearish CrabToday we are looking at CAD/JPY on a Daily chart with a potential bearish crab, I'm loving the look of this setup already.
The measurements for a valid crab pattern are detailed below.
B: 0.382 - 0.618
C: 0.382 - 0.886
D: 2.618 - 3.618
Final X to D: 1.618
As you can see from previous price movement our pair has been pushing lower since July 2015 creating a trendline, I would like to see price spike up to hit our trendline and D point completing the bearish crab pattern at 92.000 then stall out before making a move lower.
Want to learn more? Check out my Instagram for additional trading content: @lewglasgow
USDJPY Short: Wave-C Ending Diagonal at Crab CompletionUSDJPY has completed a possible ending diagonal at the PRZ of a bearish crab pattern. Ending diagonal target is confluent with the unhit daily pivot. Entry is placed at 1.618XA with SL above 1.786XA and target at Wolfe Wave target line and beginning of ending diagonal. Target also confluent with unhit daily pivot for 1/22/16.
Short EURGBP: Bearish Crab at TL ResistanceEURGBP has entered the PRZ of a bearish crab. Long-term trendline resistance may add to the probability of reversal in this area. MACD has printed bearish divergence as well as RSI being overbought to add to bearish bias. Entry is placed at 1.618XA with SL at 1.786XA and target at .382CD.
Bearish Confluence:
Bearish Crab
Long-term trendline resistance
4AB=CD
5BC Projection
Bearish MACD Divergence
RSI Overbought
1.272 structure projection
EURUSD Short: Cypher + Crab + S/REURUSD is nearing the completion of a highly confluent bearish PRZ. The projections and retracements of two harmonic patterns coincide in a tight area of resistance which falls in a broad area of S/R. Entry is placed at .786CD with SL at 1.13XA and target at .382CD.
Confluence in the PRZ:
Bearish Cypher
1.618BC Projection (Cypher)
2.272AB=CD (Cypher)
Bearish Crab
4.5BC Projection (Crab)
1.5AB=CD (Crab)
Bearish Crab Pattern (The Christmas Gift)A very beautiful crab pattern in daily chart which promises good pips,if you see long bars reaching target 1 ,close 1/2 of risky and continue to target 2 without headaches ,ADJUST STOP LOSS TO BREAK EVEN. If you like tjis idea please hit like if not leave a comment.Thanks!!
Short AUDCAD: Bat + Crab + Fib Cluster + PivotAUDCAD is nearing the PRZ of two bearish harmonic patterns. The PRZ is confluent with resistance from a Fibonacci cluster (.618 and .786) formed by two structure highs and lows. To add to the bearish bias, there is a missed monthly pivot below price which coincides with .618CD. Entry is placed at the center of the PRZ with SL at 1.13XA (bat) and targets at the .382 retracement of the CD leg.
Confluence in the PRZ:
Bearish crab pattern completion
Bearish bat pattern completion
3.382AB=CD
3BC Projection
Fibonacci cluster
Missed December, 2015 pivot below price
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USDCAD: BEARISH CRAB PATTERN ON DAILY CHART !!!Hello Traders,
Here we have a valid bearish crab pattern potentially forming on FX:USDCAD daily time frame. Just by reading price action, we see this market is in strong bullish trend. Keep in mind that there are still no signs of this pair slowing down just yet. Since the pattern is on the daily time frame the stop loss will not be suitable for every one, but we should be looking for any type of shorting opportunities on lower time frames with manageable stop loss levels, as the market reaches the 161.8% fib extension level. I personally will also be looking on lower timeframes to enter short near the 161.8% level. This market has been diverging very strongly on the weekly timeframe, shown by the RSI divergence on the chart under this description. See the chart above for more details.
NOTE #1: we got many high impact news events coming out this week. See the chart above for the list of these events.
NOTE #2: markets can still go higher even when diverging for long periods of time. Thus we need to see major structure levels break before taking divergence into account.
Illustration of strong RSI divergence on weekly chart:
Illustration of crab pattern completion point right at previous structure highs:
Better chart on the EURCHFNew notes are on the chart. Due to it holding up relatively well I feel more confident in it reaching at least the Bearish Crab target.
$AUDJPY Short: Wolfe, 2 Crabs, Pivots, Divergence, OverboughtAUDJPY has completed a bearish Wolfe Wave setup in the PRZ of two confluent bearish harmonic crabs. RSI is overbought and has printed bearish divergence. To add to bearish bias, two unhit pivots sit below price. SL is placed above the PRZ with target at .618CD (yellow crab).
Confluence in the PRZ:
Two bearish crab patterns complete
Bearish Wolfe wave setup
Unhit daily pivot below price
Missed daily pivot below price
RSI overbought
Bearish RSI divergence
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Short AUDCAD: Bat, Crab, Wolfe, Trendline, Pitchfork, PivotsAUDCAD is nearing a highly confluent zone of resistance. A bearish bat and a bearish crab are set to complete in a tight PRZ that may be contained by trendline and pitchfork resistance. A bearish Wolfe wave setup may also be completed in this area. To add to the bearish bias, two unhit daily pivots sit below price. RSI is overbought as well. Stop loss is placed above Bat X with targets at .382 and .618 CD retracement levels.
Confluence in the PRZ:
Bearish bat pattern completion
1.618AB=CD (bat)
1.618BC projection (bat)
Bearish crab pattern completion
3.5AB=CD (crab)
6.786BC projection (crab)
Bearish Wolfe wave set up
Trendline resistance
Pitchfork resistance
Unhit pivots below price
RSI overbought
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Short AUDUSD: Wolfe Wave + 3 Patterns at Trendline ResistanceAUDUSD has entered the PRZ of 3 bearish harmonic patterns. The zone falls in the sell area of a bearish Wolfe Wave and is backed by strong resistance. SL is placed above bat completion. Targets are set at .382 and .618 retracements of CD.
Confluence in the PRZ:
Bearish bat pattern completion (2X)
Bearish crab pattern completion
Bearish Wolfe wave
Strong trendline resistance
2.24BC projection
AB=CD pattern completion
2.24BC projection
1.618ab=cd
Trendline Resistance:
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