Today we are looking at NZD/CHF on a 4h chart with a potential bearish crab, I'm loving the look of this setup already.
The measurements for a valid crab pattern are detailed below.
B: 0.382 - 0.618
C: 0.382 - 0.886
D: 2.618 - 3.618
Final X to D: 1.618
As you can see from previous price movement our pair has trading within a zone, I would like to see price push out of this area to hit our D point completing the bearish crab pattern at 0.70000 then stall out before making a move lower.
I am aware there are other harmonic patterns shaping up within the same chart such as a bearish bat but this is the one I'm watching.
The measurements for a valid crab pattern are detailed below.
B: 0.382 - 0.618
C: 0.382 - 0.886
D: 2.618 - 3.618
Final X to D: 1.618
As you can see from previous price movement our pair has trading within a zone, I would like to see price push out of this area to hit our D point completing the bearish crab pattern at 0.70000 then stall out before making a move lower.
I am aware there are other harmonic patterns shaping up within the same chart such as a bearish bat but this is the one I'm watching.
📈 Master the Art and Science of Trading: sixfigurecapital.com
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.
📈 Master the Art and Science of Trading: sixfigurecapital.com
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.