Whats the difference between a crab and a bat pattern ? ...they have the same measurements...I see a bullish crab developing , others see a bullish bat...for me its all in the structure, a crab is a wider pattern, i can see its eyes looking at me ...hahahaha....I will buy at point D ..but this is counter trend so my TP will be previous resistance at 100.00 area...this will be where I short as USDJPY should head towards next fib ratio .618 on longer timeframe which is 94.00 area....
Note
If this pattern does not get completed then the other trade is to short on blue down trendline which has been established for a few months so is strong resistance...this could be a more likely scenario
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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.