AUDUSD M15, Intraday TradeI just shorted AUDCAD, Bearish 5-0 Pattern on the 1-hourly chart, and now AUDUSD on this Bearish Gartley Pattern.
It seems like the Australian dollar may have a bearish movement for the next couple of hours.
If you have been following, you should know I don't usually trade on the M15 chart, but this one has an upsize trade component.
What is an upsize trade?
An upsize trade is a trading setup that allows me to stretch my final target to the next pattern completion. It's a Trade Management skill that I've used for years.
Before using it, You must be very familiar with the product and strategy.
Bullish Crab
Mastering Bullish & Bearish Crab Patterns - Entry, SL & TPs LevlHarmonic patterns are integral to technical analysis in financial markets, and the Crab pattern is one of the most distinct among them. Both bullish and bearish Crab patterns provide precise trading opportunities by indicating potential reversal points in the market. This article delves into the structure, identification, and trading strategies for both bearish and bullish Crab patterns.
____________________Bullish Crab Pattern_________________________
Structure and Identification:
A Bullish Crab pattern is a reversal pattern that signals a potential bullish reversal at the end of a bearish trend. It consists of five points labeled X, A, B, C, and D, forming distinct Fibonacci retracement and extension levels:
XA: The initial move from X to A.
AB: Retracement from XA, typically 38.2% to 61.8% of XA.
BC: Retracement from AB, typically 38.2% to 88.6% of AB.
CD: Extension of XA, typically reaching 161.8% to 224% of XA, and is the longest leg.
Entry, Stop Loss, and Take Profit Levels:
Entry: Place a buy order at point D, where the CD leg completes the 161.8% to 224% Fibonacci extension of XA.
Stop Loss: Set just below point D to safeguard against potential false breakouts.
Take Profit: Use multiple levels:
TP1: 38.2% retracement of the CD leg.
TP2: 61.8% retracement of the CD leg.
TP3: Point C level.
_____________________Bearish Crab Pattern_________________________
Structure and Identification:
A Bearish Crab pattern signals a potential bearish reversal at the end of a bullish trend. It mirrors the Bullish Crab pattern with the same Fibonacci retracement and extension levels but in reverse:
XA: The initial move from X to A.
AB: Retracement from XA, typically 38.2% to 61.8% of XA.
BC: Retracement from AB, typically 38.2% to 88.6% of AB.
CD: Extension of XA, typically reaching 161.8% to 224% of XA, and is the longest leg.
Entry, Stop Loss, and Take Profit Levels:
Entry: Place a sell order at point D, where the CD leg completes the 161.8% to 224% Fibonacci extension of XA.
Stop Loss: Set just above point D to protect against potential false breakouts.
Take Profit: Use multiple levels:
TP1: 38.2% retracement of the CD leg.
TP2: 61.8% retracement of the CD leg.
TP3: Point C level.
Conclusion:
Crab harmonic patterns, whether bearish or bullish, provide traders with high-probability reversal signals by leveraging precise Fibonacci retracement and extension levels. Correctly identifying these patterns and setting appropriate entry, stop loss, and take profit levels are crucial for capitalizing on their potential. As with all trading strategies, it's essential to complement harmonic pattern analysis with other technical indicators and sound risk management practices to enhance the chances of success.
TX SWAP: Attempting to Double Bottom at a Bullish Crab HOP LevelTX SWAP looks to be trying to form a bottom between the 1.618 PCZ and 1.902 HOP Level of this Log scale Bullish Crab, it has also confirmed some Bullish Divergence on the MACD. As a result, TX SWAP may attempt to break out of the bigger Falling Wedge pattern, assuming the HOP holds and the Divergence plays out.
Bearish Trend in Focus!Despite the current bearish trend of the EUR dollar, there are still ways to profit from the market. After analyzing the weekly, daily, 4-hour, and 1-hour charts, I recommend two potential strategies.
For a shorting opportunity, the 4-hour chart's key resistance area at 1.0693 provides an excellent entry point. Setting an initial stop-loss at 1.0710 and a target profit of 1.0642, you could potentially earn 510 USD per lot. However, it's important to conduct your own analysis before making any decisions.
Alternatively, the 1-hour chart's bullish crab pattern with a bullish trend line presents an excellent buying opportunity. Waiting for a retest of the immediate support at 1.0650, with an initial stop-loss at 1.0630 and a target profit of 1.0672, could result in additional income. By spending just 15 minutes a day, you could potentially earn more.
It's important to remember that investing always carries some degree of risk, and it's crucial to conduct your own analysis. Do not blindly follow any advice.
Bearish Momentum Continues!📉 Monthly Chart:
- Support at 0.6160, but no end to bearish trend.
- Consider countertrend moves carefully.
📉 Weekly Chart:
- Market near resistance, but don't miss the bigger picture.
- Be cautious with countertrend trades.
📉 Daily Chart:
- Strong bearish movement.
- Market shows weakness at previous resistance.
📉 Four-Hour & One-Hour Charts:
- Potential countertrend opportunities, but be cautious.
- Look for confirmation before engaging in trades.
💡 Trading Strategies:
- Weekly chart: Gartley pattern at 0.6173 for patient buyers.
- Daily chart: Bullish crab pattern at 0.6191 for buying opportunity.
- One-hour chart: Counter trend buying opportunity around 0.6400 if market breaks lower.
A Dive into the Australian DollarTrading strategies offer a captivating avenue, providing opportunities to engage trades with less overthinking. In the case of the Australian dollar, however, it has displayed weakness, manifesting a bearish trajectory. Let's explore this together. On the weekly chart, an important point arises – the violation of the previous low. While not a critical support level, it warrants attention.
Shifting to the daily chart, a significant support breach is evident, potentially inviting bearish traders seeking shorting prospects in the upcoming week. 📊📉
Zooming into the four-hour chart, the market witnesses a robust bearish movement that transitions into consolidation. This consolidation beckons Counter-Trend Traders to consider buying within this region, while Trend Traders eye selling opportunities around 0.6441. The one-hour chart unveils a similar consolidation, often breeding patterns that attract a flurry of traders. This is a pair that should not be underestimated or overlooked. 📈🔄
Revisiting the weekly chart, trading strategies come into play. The bullish gartley pattern at "X" carries a warning – its slight dip below the pattern merits careful interpretation, contingent on your candle reading skills and trading rules. This approach has worked seamlessly within my trading setup, tailored to specific currency pairs and timeframes.
Shifting to the daily chart, sideway movement and increased volatility have persisted for months, casting caution for those seeking buying opportunities on previous support levels. The awareness to discern this pattern could have spared traders potential losses. 📉📈
An intriguing setup emerges – a crab pattern at 0.6193. A counter-trend buying opportunity beckons, although emphasis on magic candle confirmation at the PRZ remains paramount. Progressing to the four-hour chart, my focus is elsewhere. While trendlines and resistance at 0.6439 suggest shorting prospects, they do not capture my attention. 📈📉
The one-hour chart, however, holds promise. A deep gartley pattern setup at 0.6470 signals a shorting opportunity. Upon achieving and surpassing my first target, I may choose to maintain the trade, securing profits. If you're drawn to the allure of dedicating just 15 minutes a day for enhanced income, even to potentially replace your current job, don't hesitate to drop me a message. Let's explore this avenue together. 📈💰
NZDCAD: 4HR Double Bullish Harmonic with PPO ConfirmationWe have 4HR PPO confirmation at a Previous Support Level that aligns with the HOP levels of a Bullish Gartley and Bullish Crab pattern. If we get the expected performance, the NZD will hit 0.85 CAD, but could go as high as 0.89 CAD which would be the 1.618 Extension.
Chinese Yuan Price Action Setting Up For a Potential CollapseWe have a huge Void below us and the Yuan has Rallied away from this Void before, but it appears to now be making a Lower High with Hidden Bearish Divergence on Both the RSI and MACD; If the Yuan Breaks Below the B point of this Potential Crab BAMM which also happens to be The Confirmation Line of what would then also be a 3 Falling Peaks Pattern, we will very likely then see Downwards Acceleration Towards the 1.618 Fibonacci Extension Below to Complete the Harmonic Pattern
Riding the Bullish Tide on Pound-Dollar Hello traders! Let's delve into the Pound-Dollar landscape and identify potential buying opportunities. 🇬🇧💱
📊 Weekly Chart Insights 📊
The bullish trend on Pound-Dollar persists, presenting a potential buying chance this week. On the weekly chart, the market retraced to the previous support level, respecting it at 1.2632. This could be a zone to watch for potential buying.
💡 Daily Chart Observations 💡
While the daily chart may seem like a potential head and shoulders setup, I personally refrain from this trade as it doesn't align with my filters and rules. Nonetheless, consider a buying option around 1.2608 if you're inclined.
🔄 Navigating Consolidation 🔄
A closer look at the four-hour chart reveals consolidation. This scenario can be advantageous for traders on lower timeframes like 1-hour and 15-minute, who can seek counter-trend opportunities or harmonic patterns within this zone.
📊 Charting Strategies 📊
Returning to the weekly chart, remember the key buying zone lies between 1.2595 and 1.2632. Respect for the 1.2595 level is pivotal. On the daily chart, a Gartley pattern surfaces, but I lean cautious due to an elongated shadow.
⚙️ Refining Entries ⚙️
For those seeking confirmation, explore the four-hour chart's retest for an improved entry and tighter stop loss. Conversely, a bearish Gartley pattern at 1.2838 could entice shorters.
🔍 The One-Hour Chart 🔍
Keep an eye on 1.2735 on the one-hour chart—a countertrend opportunity in line with higher timeframe trends. Approaching the sell zone, an opportunity might emerge.
USDJPY is still on a Bullish TrendAfter the Friday Non-Farm Payroll move, lots of retail traders see USDJPY as a Bearish pair. But from what I see the Bullish Trend still stands.
I will wait for the retest of support in the looks of waiting for an opportunity to engage for a buying opportunity at 134.30.
Alternatively, I'm waiting for a buying opportunity at 134.06 on a Bullish Crab Pattern Formation. This shows how Bullish I am on this pair.
The Macro Defying Litecoin Bullish Crab ContinuationLTC after reaching the Bullish Butterfly profit taking target, has pulled back and developed another Bullish 1.618 Harmonic in the form of a Bullish Crab at the 200 Day SMA and Support Zone. If things go like last time we will see LTC trade at these levels for a few days before going for another Higher High eventually.
Conflicting trading ideasOn both Daily Chart and 4-Hourly chart, there is a Bullish confirmation from the Daily Chart Bullish Crab Pattern's with Wedge and RSI Divergence setup and 4-Hourly chart a potential Bullish Flag Pattern.
Personally I'm waiting for a counter-trend trading opportunity on the Bearish Shark Pattern 🦈 traded off at 97.95.
What's your trade plan for this pair?
EURUSD-Weekly Market Analysis-Feb23,Wk1EURUSD is on a Bullish Trend 🐮. On the Daily Trend EURUSD hit a resistance at 1.0878 as the market respect the Bearish Crab Pattern's HOP Level. If you are looking for Trend Trading Opportunity (looking to buy), I'll be looking to long at 1.0817 because the potential Bullish Shark Pattern converge with the Bullish Crab Pattern, this will attract 2 groups of buyer to engage the trade.
Episode578 CADJPY - Bullish CrabAs much as I like to prize this Crab Pattern as the ultimate setup for the week, this Bullish Crab Pattern has a major warning sign.
Trained Harmonic Pattern traders can comment at the bottom.
The reason I would still consider this a Crab Pattern is because the levels converge at 104.08.
The better setup this week is the Bearish Crab Pattern on the USDJPY Daily Chart, check out the link at the bottom.
USDJPY-Weekly Market Analysis-Sep22,Wk3USDJPY's daily chart has a potential bearish crab setup and the 1hourly chart has a potential bullish crab setup.
On the current timeframe, USDJPY has respected the HOP level and reversed, what interest me more is the buying opportunity it presented.
When market opens on Monday, I will wait for a retest of support for a buying opportunity.
BTC Gartley vs Crab - HarmonicsBearish Gartley, bullish Crab, impulse up to 48k accordingly to these harmonic patterns. Once there and again, accordingly to both harmonics, there should be a continuation of bullish crab targets, or a correction / downturn of bearish gartley, which I would point toward 44k down to 40k retest if will in fact be a correction meeting bearish gartley targets and all.
Crab is an unlikely pattern but seems to be playing quite well this far.
EUR/CAD: Bullish Crab Harmonic PatternEuro/Canadian Dollar forming a bullish crab harmonic pattern. So, in this 2nd analysis on Euro/Canadian Dollar showing up a bullish harmonic pattern that we could to find up good opportunities to entries to long position.
Maybe guys, this it's the H4 timeframe and the chart clean how the market structure look. To discuss, Euro break out this bearish trend line and right now, we see a new lower high, also, as I saw, we could to find up good entries to long position in this trade.
And making this deep analysis, in Daily, we see that Euro can to find up a higher point in the 0.618% as we see now.
So guys, Euro it's look optimistic in front of Canadian Dollar based the global news of negotiations peace and Euro pars it's find up strengthen in that news.
This it's my 2nd analysis on Euro/Canadian Dollar. For reference, goes to my previously and first analsyis on EUR/CAD in the link to related idea and click on.
GBPAUD - Double Bottom PullbackWe have a double bottom pullback trade on the GBPAUD. What's so special about this trading setup? Well, on the higher timeframe, the Daily Chart, there is a Bullish Crab Pattern check back.
Although the formation is complete beyond the PRZ, it sits nicely at the level and acts as a new support level.
If you are familiar of the Crab Pattern, you should know that it is quite normal.
On the current timeframe, the 1-hourly chart, the market has a Double Bottom followed by a pullback. No doubt this gives the best Reward: Risk, it is also a high-risk trade as the probability of it hitting the stop-loss is high.
Before you ignore this trading setup, what if I tell you that the potential profit is 386pips, in fact, that might not even be the level that I would take any profit off, and just that it creates more than 5:1 of returns.
Now, would you be interested?