Hello, Traders!
Today, we have tremendous confluence on the 1D AUD/USD chart with a Bullish Crab and Reverse Head and Shoulders pattern.
As price is making its way down to touch the neckline of the Head & Shoulders pattern, a Bullish Crab pattern is shown with D point right at the same reversal zone, while meeting a historically strong rising trendline.
Risk:Reward - 1:3
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
Today, we have tremendous confluence on the 1D AUD/USD chart with a Bullish Crab and Reverse Head and Shoulders pattern.
As price is making its way down to touch the neckline of the Head & Shoulders pattern, a Bullish Crab pattern is shown with D point right at the same reversal zone, while meeting a historically strong rising trendline.
Risk:Reward - 1:3
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
