Crude Oil Trade Idea Bearish Crab Harmonic Pattern
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.
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.