Aug 2, 2011

CADCHF H1 Bullish Crab Pattern - 1 Aug 2011

1 Aug 2011

Bullish Deep Crab Pattern On CADCHF Hourly Chart.

This pattern is define by 88.6% retracement of XA at B point and 38.2% retracement of AB at C point.

1.27AB=CD @0.8160
1.618XA @0.8112
2.24BC @0.8092

However i think it is quite dangerous to jump in long position at the moment. Price action is testing the PRZ and was in all time low at 0.8070. I will be looking on the retest of the PRZ. This pair still  in strong predominant downtrend.

4H Bearish Channel On CADCHF.


Harmonic Noob said...

How are you calculating your PRZ? I am having problems with that.


admin said...

there are different fib retracement for each pattern. U can download summerize of all pattern here :
Other than that, i'm highly recommend Scott Carney "harmonic trading" volume 1&2 book.

Anonymous said...

hey, did u catch this?
U might want to check that guy too. very good with harmonic too but has his own unique style for incorporating trend analysis.

check on him too

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