Deep Crab
USD/JPY - Bullish Deep CrabHello traders, it appears USD/JPY is now forming a bullish deep crab pattern on the 30m chart. This is an excellent opportunity with a potential 150+ pip return!
The measurements for a valid deep crab are detailed below.
B: 0.886
C: 0.382 - 0.886
D: 2.24 - 3.618
X to D: 1.618
I'll be expecting price to stall out once it reaches the D point, this forms on a key level of support!
Keep this setup on your watch list going into a new week.
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USDCAD D1 Bearish Deep CrabPrice currently retesting a pin bar support zone (demand zone) before trending upwards to complete a Bearish Deep Crab.
Also look at the abcd within the pattern and watch for its points for targets, as price crosses every point it will be a confirmation to go aggressive and add to your positions, AC trend line is also an important line to watch how price will act on.
EURJPY Cypher: Butterfly (current) Deep Crab (possible)This weeks aggressive Euro moves has negated some studies and populated other new studies.
For the EJ pair we will be looking for key fib levels to define possible Cypher patterns Butterfly and Deep Crab Bearish.
Per ususal the market negates our XA move and the study is nullified.
122.887 cannot be exceeded
121.971 is a key .886 level and supports the Deep Crab pattern
121.167 has been satisifed in the XA movement so Butterfly Bearish will define the next possible move
What to watch for:
Price points above and for the day and check for 121.307 for a possible reversal on the day to chase the next BC leg target which is currently 119.251.
USD/CAD - Bearish Deep CrabHello traders, it appears USD/CAD is now forming a bearish deep crab pattern on the 4h chart. This is an excellent opportunity with a potential 300+ pip return!
The measurements for a valid deep crab are detailed below.
B: 0.886
C: 0.382 - 0.886
D: 2.24 - 3.618
X to D: 1.618
I'll be expecting price to stall out once it reaches the D point, this forms on a key level of resistance!
Keep this setup on your watch list.
Connect with me on social media for more trading inspiration :)
PANW Potential Bullish Deep Crab patternIf PANW decides to bounce from here without retracing to 102 ish (61.8% fib of the entire up move), It can go trace up to the $120 level in the form of a deep crab harmonic pattern