BULL Crab may be forming in EURUSD range 1HR

2017年1月6日

Since price pushed up to previous highs on 12/29/2016 and was rejected back under 1.055 there has been an few emerging patterns. The ascending triangle is a known reversal pattern and price has made significant reversals at key price points to confirm this simple pattern. As price approaches the end of the ascending triangle we should be looking for price to close under 1.055, which should provide a serious chance for the AB leg to continue forming into a BULL crab. This is following a rally to 1.06 and recession to 1.055, again. If AB completes around 1.05 range then this crab could be walking us all to the bank. That is, if you decide to jump into short position to ride out the CD extension after a price rallies and reverses between 1.055 - 1.06. Price has some work to do to push through 1.055, so let's keep watching.