Market right now looks heavily bearish, but if it keeps heading down, there might be a potential bullish harmonic pattern : the Crab pattern. There are 2 ways to trade this pattern ; the aggressive entry, which is right at the beginning of the grey box, or the more conservative entry, which is at the bottom of the grey box. If you don't want to miss a the trade, the aggressive entry is better suited for, but if you're more of a conservative trader, entering at the bottom of the grey box would be ideal for you. However, there are pros and cons for both methods ; if you enter aggressively, you risk a bit more, but if you enter conservatively, you risk less and you might miss the trade. There are 2 ways to trade this pair and there's no right or wrong, it all depends on your trading plan.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.