Short
Potential Crab Forming
Potential deep crab, sitting on the daily high making lower highs/lows.
We had a big bearish candle break structure earlier this week signaling potential bearish movement/weakness.
Right now price is sitting on the C point and can't go any higher, if it does the crab is invalidated, so I will watch price here carefully especially the candles, if we see a reversal candle/a spike to the high before a reversal I will short here using the previous lows as my targets along with the D point as an end target.
If price wicks past the C point but still closes around the 886 confirmation is still valid!
We had a big bearish candle break structure earlier this week signaling potential bearish movement/weakness.
Right now price is sitting on the C point and can't go any higher, if it does the crab is invalidated, so I will watch price here carefully especially the candles, if we see a reversal candle/a spike to the high before a reversal I will short here using the previous lows as my targets along with the D point as an end target.
If price wicks past the C point but still closes around the 886 confirmation is still valid!
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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.