I hope everyone had a great weekend! The markets are looking as good as ever!
Today, to start off the week, we have NZD/JPY on the 1W chart. This is looking great for the long term!
In the up turn of the market, we have been hitting some resistance the past couple weeks. At this point, we are seeing the completion of a BULLISH 5-0 and a BULLISH DEEP CRAB pattern.
With the two harmonic patterns completing at this point, along with the market hitting the resistance of this current trend line, we can expect a HUGE price reversal VERY SOON.
This will be a good one to hold onto for the weeks to come!
The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50
The measurements for a valid deep crab pattern are detailed below. B: 0.886 C: 0.382 - 0.886 D: 2.0 - 3.618 Final X to D: 1.618