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Crude Oil Trade Idea Bearish Crab Harmonic Pattern Update: TP1 Reached 90 Pips

Crude Oil Trade Idea Bearish Crab Harmonic Pattern

Published 03-25-2018

CHART TIMEFRAME: H4

PATTERN: Bearish Crab Pattern

PREDICTED PRICE ACTION: Crude Oil would complete Bearish Crab at D 66.41. Possible retracement towards Fibonacci 38.2 and 61.8.

TRADE: SHORT

AREA OF ENTRY: 66.35 -66.60

STOP LOSS: 67.30

TAKE PROFIT 1: 65.70

TAKE PROFIT 2: 65.30

EXTENDED TARGET: 64.90

UPDATE: TARGET 1 REACHED. YOU CAN CLOSE 50% OF YOUR POSITIONS AND MOVE SL TO ENTRY.

NOTE: Wait for the price reaches the area of entry. If the price breaks above 66.60, 67.15 will be the entry level of this pattern.

Keep your risk limited 1% of your account size.

DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.

 

 

 

Crude Oil Trade Idea Bearish Crab Pattern:  Involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility
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