is it the big short today?
Updated
The Deep Crab pattern is the combination of a Bat pattern and Crab pattern. .The difference can be found at the B point which must be an 0.886 retracement.
In the last chart, I said there were two patterns happening in the same time: crab vs H&S.
After the H&S won against my last Crab - I have to finish my trade with only my first profit.
I have been looking for another pattern to place my money in, and I believe I just found the Deep Crab one.
In Deep Crab formation, B point is at 0.886 retracement of XA - exactly what we have now;
RULES:
B point that is a 0.886 retracement of XA. In most cases, B point might exceeds 0.886 retracement. As long as B point doesn’t exceeds X point, the pattern is still valid.
It must be confirmed with the currently retrace of B - we are currently in 1837, so I expect B to finish around 1838.5 - 1845, but not touch 1850.
In this case, C to D will be a huge drop -fib numbers are 2.24, 2.618, 3.14, 3.618 - we are talking about going under 1800 area today!
There is also a chance this is just a Garley Pattern, even with such deep B - this case will have a less exciting end at 1820.
In the last chart, I said there were two patterns happening in the same time: crab vs H&S.
After the H&S won against my last Crab - I have to finish my trade with only my first profit.
I have been looking for another pattern to place my money in, and I believe I just found the Deep Crab one.
In Deep Crab formation, B point is at 0.886 retracement of XA - exactly what we have now;
RULES:
B point that is a 0.886 retracement of XA. In most cases, B point might exceeds 0.886 retracement. As long as B point doesn’t exceeds X point, the pattern is still valid.
It must be confirmed with the currently retrace of B - we are currently in 1837, so I expect B to finish around 1838.5 - 1845, but not touch 1850.
In this case, C to D will be a huge drop -fib numbers are 2.24, 2.618, 3.14, 3.618 - we are talking about going under 1800 area today!
There is also a chance this is just a Garley Pattern, even with such deep B - this case will have a less exciting end at 1820.
Trade active
There is also a mini H&S starting in the 15 minutes time frame. Left shoulder and head are already completed inside an ascending channel. It strong makes me to believe this has potencial to go at 1840 - 1845 area and drop hard again.Note
It is show time.I believe C was completed at 1840.7 - inside the purple rectangle.
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