Mahindra & Mahindra Finance - ALT Shark with Wolfe Wave M_mFin has alt shark along with wolfewave and rsi negative divergence on daily timeframe. Also a deep crab and Wolfewave at lower timeframe, Expecting a upside move till shark PRZ after hitting small TF ww target . IF sl taken then we can expect Gartley and can long till 272.
Forecast of gartley if broken B
Deep Crab
USDJPY-Weekly Market Analysis-Jul22,Wk4USDJPY is on a strong Bullish Trend. However, counter-trend traders can wait for a retest at 139.11 to engage a shorting opportunity based on the Bearish Crab Pattern retest at the HOP level.
A retest at the HOP level also means I'll be getting a RSI Divergence.
EURUSD-Weekly Market Analysis-Jul22,Wk4The Bullish Deep Crab Pattern on the Daily Chart might not form up, and even if it did, it might not be ideal. However, if you have long based on the counter-trend trade on the Bearish Parallel Channel, congratulation is in place.(check out last week's chart at the bottom of the tradingview link).
Alternatively, you can wait for the Bearish Shark Pattern on the 4-hourly timeframe to complete, hitting the first target and waiting for a buying opportunity on a 5-0 pattern setup.
In trading, being patient is important.
Common features of all bullish harmonic patterns.www.tradingview.com
By combing all bullish harmonic patterns together, we can observe the following:
1. The Bat, Cypher , Gartley and Shark pattern point D is (0.786 - 0.886) XA without breaking the low.
2. The Butterfly, Nenstar , Crab and Deep Crab point D is (1.272 - 1.618) XA after breaking the low.
3. Point C band is common for all patterns (0.382 - 0.886) AB
4. Pint B band is common for three patterns ( 0.382 -0.618) : Bat (upto 0.5) , Gartley and Crab, with the Gartley pattern point B fixed at 0.618 XA
5. Patterns breaking out of Point A high have a band ( 1.13 - 1.61 )AB
EURUSD-Weekly Market Analysis-Jul22,Wk1Trend traders could wait for the market to retest on the upper trendline of the bearish channel for a shorting opportunity.
Counter-trend traders could wait for candlestick pattern confirmation to long EURUSD based on the Bullish Deep Crab Pattern that completes at 0.9928. However, long at 0.9928 means that Euro went off parity with the Dollar and that might invalid the Deep Crab Pattern should the market break and close below 0.9928.
BEML - Bearish ContinuationNSE:BEML has been trading in downtrend due to market weakness and has also broken the neckline support. It has activated two possible harmonic patterns, Butterfly and Deep Carb. Targets are 1040 (target #1) and 760 (target #2) respectively. Both targets are very important levels. So price might reverse from either of them, most likely from target#1. If market weakness prevails then it might continue down to target#2.
EURUSD-Weekly Market Analysis-May22,Wk4EURUSD is on a Bearish Trend. If the market retest and reverses at 1.0595 show that the market could have a strong continuance of the bearish run. If the market extends to 1.0730 and consolidates, it shows potential of a Bearish Deep Crab Pattern. I will then wait for the retest at 1.0730 and make sure there is an RSI Divergence before engaging the trade.
PRZ as Deep Crab on EURUSD (bullish positions)There's a deep crab in proccess at this moment and the candlesticks and price action seems to react to this zone. I think it would hit TP1 and then continue to fall. So for short periods, I see this pair with long opportunities. Pay special attention to 1.045 as it could act as a resistance.
Do you have any other ideas? Let me know on the comments.
CNX PSUPublic Sector Enterprise has seen a Bearish Harmonic Deep Crab Reversal.
Currently near a support, if this fails to hold here @ 4270. If this fails to hold then the next major support for the sector is near 4100. Short covering would trigger above 4325.
This was one of the strongest sectors since MARCH revival with Govt plans to Divest stake in several of them, lets see what Govt does if the trend continues like this.
GBPUSD-Weekly Market Analysis-Apr22,Wk4GBPUSD has broken and closed below the channel, trend traders can wait for a retest of the channel for a shorting opportunity.
Counter-Trend Traders can wait for the market to consolidate at 1.2796 and wait for a 3-bar reversal to long based on the Bullish Crab Pattern.
Bullish Deep Crab Formation About to CompleteAs you can see, In NSE:ICICIBANK 15 min time frame, CD leg of Bullish Deep Crab Harmonic Pattern is about to complete. We can see reversal from the level of PRZ.
Hello Trader. If you like the idea, do not forget to support with a like and follow.
Above is purely my opinion. It doesn't mean that you need to trade accordingly. Please note that I'm not Sebi registered advisor or technical analyst . Trade on your own conviction and please consult your advisor before investing .
Moderna... Is there a booster coming ?Quite a ride... I suspect we are getting close to the bottom unless the Apocalypse is coming.
2 Harmonic Deep Crabs forming with different terminuses depending on the X point.
Deep Crabs have a habit of going on longer than expected so let this play and break the arc to the upside first.
So monitor for now.
As always keep an eye on world markets and trends.
Not investment advice. Do your own due diligence.
Good Luck
S.
Possible SHORT on GBPJPY; creation of Bullish Deep Crab Pattern Hello everybody!
So, after shorting on daily timeframe, and saving my ass on 4H chart :D I'm again for - shorting. Or buying JPY, whatever sounds better for you!
Thing is, at least how I see it, GBPJPY will soon touch Fibonacci 1.618 (around 144.38). When? Well, it's a billion dollar question. However, I'm convinced that it will happen in the next 5-10 days.
At that point, a Bullish Deep Crab pattern will be formed, and I'm already putting on alarm and pending orders for Buy Limit.
After it reached D-point, next targets are:
T1: X-point aka Fibonacci 1, around 149.50
T2: B-point aka Fibonacci 0.618, around 152.71
T3: this is hardly likely but you never know :D - zone between A-C-points aka Fibonacci 0 between 157-157.80
Let's ride together on these waves!
BULLISH DEEP CRAB The Deep Crab Pattern™, is a Harmonic pattern™ discovered by Scott Carney in 2001.
The critical aspect of this pattern is the tight Potential Reversal Zone created by the 1.618 of the XA leg and an extreme (2.24, 2.618, 3.14, 3.618) projection of the BC leg but employs an 0.886 retracement at the B point unlike the regular version that utilizes a 0.382-0.618 at the mid-point. The pattern requires a very small stop loss and usually volatile price action in the Potential Reversal Zone.