Daily and 4Hr bearish crab patternThere is a completed daily and 4hr bearish crab pattern at a daily level of resistance and a fib cluster area as well
I will not be looking for a short position until price closes below the 35.94 level
Crab
Other see this as Coal, I see this as DiamondA retest of previous resistance on the daily chart combined with a strong bullish candle movement (an engulfing candle) is an intriguing setup. The observation of RSI Divergence at these levels serves as a significant indicator for a potential reversal.
Regarding the recent deviation from the PRZ zone of the crab pattern on AUDUSD, it seems it hasn't reached the HOP (Harmonic Optimal Price) level before reversing. This deviation could be a point of interest for observation on the H4 chart.
Your decision to take an aggressive shorting opportunity due to the attractive profit factor is noted. However, as you rightly mentioned, managing risk is crucial in such trades. Wishing you success in your trade management and strategy execution!
Take-off Nikkie and Yen Together to Skythe detail is shown in the above chart.
I made this Idea based on Candlestick Analysis and Fibonacci Tool .
buyers are burned in rectangle (0.5- 0.618 golden level retracement)
therefore ,we can expect that JP index decreases step by step to 1.27 and 1.618 .
Yen Is ready for Take-Off based on this published Idea
Bullish Crab Harmonic Pattern Will start at 29.5k.
Japan Is Best.
Good Luck
$GRT shows a great diamond formation.After the breakout pattern i published a couple weeks earlier was successful, GRT formed a great diamond pattern in the time span of 1 hour. A breakout towards the bullish direction would be a sign of great upwards movement.
[MRKUSDT] Binance: Long IdeaThis idea uses Supply and Demand with Harmonic Pattern (Crab) as confluence
Technical Analysis of GBP/USD - Bearish Crab PatternHello traders,
I would like to do detailed technical analysis of GBP/USD currency pair and the potential presence of a bearish crab pattern. The bearish crab pattern is a harmonic chart pattern used by traders to identify potential reversal (correction) points in the market. Let's examine the key aspects of this pattern in GBP/USD, including the retracement levels and extension ratios.
Bearish Crab Pattern Overview:
The bearish crab pattern is a reversal pattern that typically forms after a strong bullish trend. It consists of four key points: XA, AB, BC, and CD. In the context of GBP/USD, the pattern has the following characteristics:
1. AB retraced XA by 0.598:
The first part of the crab pattern is the AB leg, which retraced the XA leg by 0.598. This retracement level indicates a moderate pullback after a strong initial move.
2. BC retraced AB by 0.799:
The BC leg of the pattern retraced the AB leg by 0.799. This level of retracement is deeper than the typical Fibonacci retracements, suggesting a more substantial correction.
3. CD is an extension of BC by 3.172:
The CD leg is an extension of the BC leg by a ratio of 3.172. This means that the final leg of the pattern extends significantly beyond the BC leg. A 3.172 extension is a common feature of the bearish crab pattern and signals that the reversal is likely to be strong.
4. CD terminates at 1.24285:
The CD leg terminates at the price level of 1.24285. This is a crucial point for traders, as it is where the pattern suggests a potential reversal in the GBP/USD pair.
Technical Analysis and Implications:
The presence of a bearish crab pattern in the GBP/USD currency pair with the described characteristics is a bearish signal. I will be considering the following implications:
1. Reversal Signal : The bearish crab pattern is a reversal/correction pattern, suggesting that the bullish trend in GBP/USD may be losing momentum, and a bearish trend could develop.
2. Resistance Level : The termination point of the CD leg at 1.24285 serves as a significant resistance level which emanated from the rejection of price on the 11th and 12th of October. Having seen a bearish engulfing candlestick pattern at this zone, we anticipate reversal around this price.
3. Stop-Loss and Take-Profit Levels : We are setting 1.24550 as our invalidation zone, while our potential profit areas are 1.22990 and 1.22400 respectively.
4. Confirmation : This pattern is further confirmed by our elliott wave count. The reversal point seems to coincide with the end of impulsive wave 3, confirming that the drop may be a wave 4 correction. And if wave 4, our target should not be big (maybe 1.23006) as the trend is bullish.
Conclusion:
The presence of a bearish crab pattern in the GBP/USD currency pair with the described characteristics suggests a potential reversal (correction) in the bullish trend. We have seen further confirmation using Elliott wave and price action analysis, but remember no trading idea is foolproof hence the need to manage risk properly.
Cheers!!!
Chart to EW Analysis:
XAU __ possible moveHello traders 🖐🏻
Gold is in a very important area.
💎⚠️Note that the support range of gold is $1970 to $1974, and if we lose this area, we can consider a deep crab pattern for gold, which becomes the daily support range of $1930 to $1910.
🚨So, note that the condition of this corrective move is that gold destroys the $1970 support .
(Destroy 😂)
2018 to 2022 is also major demand 😉
Trade save and good luck.
Potential Bearish Setup on Weekly ChartAs anticipated, the Bullish Shark Pattern has initiated its move on the Weekly Chart—a prediction I shared as early as October 8, 2023. For visual confirmation, refer to the chart within this Trading View post.
Now, attention shifts towards the potential emergence of the bearish 5-0 pattern on the Weekly Chart.
On the Daily Chart, there's a convergence of Bearish Shark and Bearish Crab Patterns, both culminating at the same completion level, 0.9015. This sets the stage for a potential shorting opportunity upon market retest at these levels.
Alternatively, consider a shorting opportunity on the 1-hourly chart, targeting the retest of the resistance level at 0.8908.
The pivotal question arises: What's your trade plan? Your insights carry weight. Please share your perspective below!
Potential Short-Term Bullish MomentumThe GBPUSD is currently exhibiting a Weaker Bullish Trend on the Weekly Chart.
Upon closer examination of the Daily Chart, it appears that the completion of the Bullish Shark setup may have eluded us. The current resistance level holds pivotal importance. A close above it would prompt traders to await a buying opportunity. Conversely, if the market respects this resistance, the formation of a double top might signal a shorting opportunity.
For those inclined towards a shorting stance, my focus lies on the formation of a double top pattern at the Bearish Crab Pattern, projected at 1.2441 on the 1-hourly chart.
I'm curious about your perspective. What's your take on the GBPUSD? Please share your insights below!
Amazing Shorting OpportunitiesUpon careful examination of the chart, it's apparent that the majority of retail traders are poised for a buying opportunity, making any talk of shorting seem unconventional.
Yet, a different perspective emerges upon closer inspection.
Observations:
I've discerned indications that suggest a contrary approach may be prudent.
Trading Strategy:
I'm personally awaiting a shorting opportunity on the forthcoming completion of the Bearish Crab Pattern, projected at 1.3926. This stands in contrast to the previous crab pattern, offering a fresh tactical choice.
For those still inclined towards a buying stance, a retest of the trendline on the 1-hourly chart might present the awaited opportunity.
Now, the crux of the matter: What's your call? Your insights carry weight. Please share your perspective below!
Reduction target 22$According to the Butterfly pattern, the decline at the target of $ 22 perfectly converges. This should happen within a year, there will be a great point for going to long.
Navigating Bullish Momentum Amidst Potential Caution SignsIf you caught my last week's analysis, along with the accompanying article on Trading View, you can dive deeper into the details by clicking the link.
In my previous analysis, I emphasized the significance of waiting for the Bearish Crab Pattern confirmation on the Daily Chart before considering a shorting opportunity.
Now, let's delve into why this is crucial:
It enables you to distinguish between astute analysis and a sales-driven approach often seen in the financial world.
If you happened to miss the initial shorting opportunity, there are three viable options to consider:
Option 1 : A retest on the Bearish Crab Pattern on the daily chart at 150.43, presenting another potential shorting opportunity.
Option 2 : A retest on the Bearish Shark Pattern on the 4-hourly chart at 150.45. These levels may appear close, but they entail different timeframes for trading confirmation.
Option 3 : You might opt to await a retest of the trendline on the 4-hourly chart before engaging in this counter-trend trade.
The critical question now arises: Which of these three options aligns best with your trading strategy, and why? I'm eager to hear your thoughts. Share your insights below!
Netflix: Bearish Crab with Bearish ConfirmationNetflix recently traded just above the HOP level of a Bearish crab and has since gapped down below the 1.618 PCZ and given us a Bearish Divergence on all Oscillators as well as PPO Circle Confirmation. We could see Netflix begin a full retrace of the Harmonic range from here.
MCOM: 3 Line Strike at PCZ of Bullish Deep CrabThe RSI is peaking above the oversold zone after confirming a Bullish engulfing and very nearly confirming a 3 Line Strike at the PCZ of a Bullish Deep Crab.
I do not normally enter stocks like this, but seeing how cheap this stock is and how the market cap is only $5 Million, yet the annual revenue is more than half of that, along with the fact that there is a bit of a technical argument for a gap fill from these levels, I decided it was worth taking a small chance on this stock to see if it can gain some major upside.
Cashing in on Potential USDJPY Pullback Profits!
The USDJPY pair continues its strong bullish movement, even on the Weekly Chart, reaffirming the prevailing uptrend.
Counter-Trend Strategy:
As a counter-trend trader by nature, I'm on the lookout for shorting opportunities.
Trade Possibilities:
Weekly Chart: A potential Bearish Fib-3 Bat pattern could offer an entry point for a pullback trade. However, I'm mindful of not waiting for excessive confirmation and potentially missing out on a 300-pip profit potential.
Daily Chart: Keeping an eye on a potential Bearish Crab Pattern confirmation at 150.43.
Intra-Day Traders: Consider waiting for the completion
of a Bearish Shark Pattern at 149.96.
I'm curious about your trade plan. What are your thoughts? Feel free to comment below.
Returning to 1.22500? GBPUSDOn the H1 price is currently consolidating, building liquidity before shifting to the next move. With the struggle of price breaking down, to continue further going low, I'm keeping an eye around 1.22500 as the area price may return before attempting to go short again.
LMT: Bearish 5-0 with Hidden Bearish DivergenceLMT, after Double Topping at the PCZ of a Bearish Deep Crab, has decided to attempt to finish off this bearish range with a Bearish 5-0, if successful, we could see LMT push significantly below $400.
Strong Bullish Trend for High Returns!The USDJPY is currently experiencing an upward trend. To capitalize on this trend, I plan to wait for a chance to buy at the Fib-3 Bat Pattern completion on the 1-hourly chart at 149.09.
However, it's important to note that both the 4-hour and daily charts show a Bearish Harmonic Pattern that completes at a similar level of 150.41. As such, it would be best to wait for a candlestick pattern completion before considering a counter-trend trade.
Bullish Momentum and Shorting TacticsGBPUSD is currently at its last support on the bullish trend. If the market closes below 1.1799 on the weekly chart, it will turn bearish.
For those seeking a buying opportunity, the Bullish Crab Pattern may present a good chance at 1.2132 on the retest.
Google: Bearish Deep Crab Dark Cloud Cover Type 2 Return EntryGoogle, after its initial bearish reaction to the PCZ, has returned to the PCZ as the RSI managed to make a 3rd lower high and is set up to give us an impulsive move downwards in the coming days. We also confirmed a textbook Dark Cloud Cover today after the rejection of the ascending trend line.
I think we will see extreme downside from Google pretty soon that will undo most, if not all of its 2023 upside price action.
GBPNZD - SHORT - Revised GBPNZD is making a crab pattern with a Bearish Divergence near a supply zone.
