NZDUSD Bearish Deep Crab Pattern And Short Opportunity
Bearish Deep Crab Pattern on the H4 chart. RSI divergence on H1 Chart.
Warning and Things to Pay Attention:
1. Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
2. Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
3. Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
Trade Reason:Bearish Deep Crab Pattern
Time Frame: H4
Trade Period: Intraday / Midterm
Estimated completion time: 2-16 H4 Candle Stick
The trend in the Timeframe: Bullish
The trend in the Daily Chart: Neutral
The accuracy of the pattern: 93%
Recommended Lot Size: 0.10 at 10K
Short at Market 0.6906
Stop above 0.69500
Target1 : 0.68970 / Reached
Target 2: 0.68700 / Reached
Target 3: 0.68400 / Reached
Our main NZDUSD trade setup has been published for the members. We wait for the breakout of 0.6800. Our long-run target is 0.65000.
Update: March 26th
RBNZ Interest Rate Decision and MP Statement will be announced
We plan to re-short at the breakout
Short Level: 0.68700
Target1 : 0.68400 / Reached
Target 2: 0.68000 / Reached
Target 3: 0.67600
Target 4: 0.66200
After the closing below 0.68000, our new scenario will be validated.
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
NZDUSD: Information on these pages contains forward-looking statements that 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