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Bearish Crab

NZDUSD: BEARISH CRAB PATTERN COMPLETED WITH BETTER ENTRY PRICE!!Hello Traders, Here we have a valid bearish crab pattern that has already been completed on FX:NZDUSD , but we are now able trade this pattern with much lower risk. Market has moved beyond the crab pattern completion point (161.8% Fib extension), which has allowed us to lower the risk and increase our potential profit. The stop loss for this pattern is usually 10 to 20 pips above 200% Fib extension level, but since we are close to the previous structure resistance , we might as well hide our stops above that level. Notice that by doing this we also take into consideration the key psychological round level @ 0.67000 . We also have put in two double bottoms on this pair and if we get down to the 61.8% fib level (TG #2), than that would be a nice long opportunity based on 2618 trade setup. See the chart above for more details. NOTE #1: This pair is about to test the 100 day moving average on the daily chart, likely to see some type of reaction from it. See the chart below after this description. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
Short
by moneymaking
8
Short GBPUSD: Bearish Crab + Pivot Cluster + Wolfe + S/R GBPUSD has formed a potential bearish crab which contains a PRZ that coincides precisely with an unhit pivot cluster and a potential Wolfe Wave target. As profits are taken at the pivots, price may have a tendency to reverse quickly and drastically. SL is placed above a significant support and resistance area. Profit is taken at the PRZ of a potential bullish butterfly pattern confluent with a Wolfe Wave buy zone. If trade is triggered and target is hit, I will look for PA reversal signs at the bullish butterfly/Wolfe wave PRZ. Confluence in the PRZ: 1. Bearish crab pattern completion 2. 3.14BC projection 3. 2.5AB=CD completion 4. Unhit monthly pivot for October, 2015 5 Unhit weekly pivot 6. Significant S/R area 7. Potential WW target Thanks for viewing and please don't forget to take a second to click the thumbs up button and follow for future updates and trade ideas!
Short
by glennmercer
SHORT NZDUSD: WOLFE WAVE + GARTLEY + TREND FOLLOWINGNZDUSD completed a bearish Wolfe Wave pattern last week and is nearing the PRZ of a bearish Gartley to possibly continue its movement south. This pair has been in a 14 month long downtrend and the steep pitch of the 1-4 Wolfe Wave target line signifies a deeper continued drop is possible. Those who missed the WW sell entry will have an opportunity to enter when price approaches the Gartley PRZ. If price should pass through the Gartley PRZ without showing signs of reversal the next levels I will look for are the completion of the bearish butterfly and bearish crab patterns. Targets are placed at the .382 and .618 retracements of AD and longer term traders may want to monitor price action for signs of bearish trend continuation. Bearish Confluence: 1. Bearish Gartley pattern completion 2. AB=CD pattern completion 3. 1.618BC projection 4. 14 Month downtrend 5. Bearish Wolfe Wave Thank you for viewing!
Short
by glennmercer
Short EURGBP: Crab + Bat + Strong S/RAfter a strong rally today, EURGBP looks as though it is ready for a pullback. A bearish bat is complete at the same level of the completion of a bearish crab. Stops are placed above strong S/R with targets at the .382 and .618 retracement of CD. Confluence in the PRZ: 1. Bearish bat pattern completion 2. Bearish crab pattern completion 3. 2.618BA projection 4. 4.618BC projection 5. Strong resistance area Thanks for viewing and please take a second to click the thumbs up and follow for future updates and more trade ideas!
Short
by glennmercer
WW T2 Achieved: Now Short on Wolfe Wave, Bat & ButterflyEURJPY has achieved Wolfe Wave T2 (attached below) and is completing a series of bearish patterns in a confluent reversal zone. On the longer TF, a 1.13 projection of 0X lies at the top of the PRZ. There are also bearish bat and butterfly patterns completing in the area of a Wolfe Wave SELL zone. Missed pivots lie below price which may also drag down price. Entry in the middle of the PRZ with targets at the 1-4 WW target line and the .618 allow for a R/R of about 2.5. Confluence in the PRZ: 1. Bearish Bat Completion 2. Bearish Butterfly Completion 3. 3.14BC 4. 1.13 0X 5. AB=CD 6. 3 bc Projections 7. Bearish Wolfe Wave completion Thanks for viewing and don't forget to take a second to hit the thumbs up and follow for future updates and more trade ideas. Comments welcome! Long on Wolfe Wave: Long on Bullish Crab:
Short
by glennmercer
Sell GE: Wolfe Wave & Bearish Crab - Perfect Confluence!GE has completed a bearish crab pattern in the optimal sell zone for a short Wolfe Wave trade. There is significant bearish divergence in addition to an overbought RSI which add to the bias toward the short side. Two missed weekly pivots sit below price as well, which may help drag the price down. Stop loss can be placed above a significant S/R level while maintaining a substantial R/R. The higher probability target is the .382 retracement of the xa leg at 25.24, but a more aggressive trader may chose to target the 1-4 target line. Confluence in the PRZ: 1. 1.618 extension of XA (bearish crab pattern completion) 2. 1.786ab=cd 3. 1.618ab=cd 4. .886 XA 5. 2bc projection 6. Overbought RSI 7. Bearish divergence Follow me for more updates and trade ideas!
NYSE:GEShort
by glennmercer