AUDUSD: Is it time to buy? Crab says No!
I see a lot of people are starting to anticipate a reversal on this pair. Well, I am also. But, looking at this POTENTIAL bullish crab, maybe just not yet so fast. Yes, it's just a POTENTIAL pattern and just because I drew one there doesn't mean it will complete.
BUT, what's interesting to note is that as can be seen more clearly on the DAILY chart below, there is a very clear AB=CD pattern that would complete EXACTLY TO THE PIP at the same point that the bull crab would also complete.
Coincidence? Confluence? Or just bunk? You decide.
If you like my analysis and find it useful, please take a second to hit that LIKE button and follow me. It takes some time to create these posts and I would like to know if you find them helpful. As always, agree or disagree, your comments are welcome.
BUT, what's interesting to note is that as can be seen more clearly on the DAILY chart below, there is a very clear AB=CD pattern that would complete EXACTLY TO THE PIP at the same point that the bull crab would also complete.
Coincidence? Confluence? Or just bunk? You decide.
If you like my analysis and find it useful, please take a second to hit that LIKE button and follow me. It takes some time to create these posts and I would like to know if you find them helpful. As always, agree or disagree, your comments are welcome.
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Twitter: @andrewefxselect
Website: efxselect.com
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