Today we are looking at NZD/CHF on a 4h chart with a potential bearish crab, I'm loving the look of this setup already.
The measurements for a valid crab pattern are detailed below.
B: 0.382 - 0.618
C: 0.382 - 0.886
D: 2.618 - 3.618
Final X to D: 1.618
As you can see from previous price movement our pair has trading within a zone, I would like to see price push out of this area to hit our D point completing the bearish crab pattern at 0.70000 then stall out before making a move lower.
I am aware there are other harmonic patterns shaping up within the same chart such as a bearish bat but this is the one I'm watching.
The measurements for a valid crab pattern are detailed below.
B: 0.382 - 0.618
C: 0.382 - 0.886
D: 2.618 - 3.618
Final X to D: 1.618
As you can see from previous price movement our pair has trading within a zone, I would like to see price push out of this area to hit our D point completing the bearish crab pattern at 0.70000 then stall out before making a move lower.
I am aware there are other harmonic patterns shaping up within the same chart such as a bearish bat but this is the one I'm watching.
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