UPDATE: Both Targets achieved :)
Hello Traders,
We've got a bearish crab pattern completion at previous structure, looking left. Since the market looks pretty bullish for now, this setup could turn out to be invalid. Having said that, there are really good resistance levels that the market needs to break before hitting our stop loss. Looking for bearish price action at these levels is a good way to reduce your risk while increasing your potential profit. I'll be waiting for strong bearish price action at the 161.8 level before risking any capital. The stop loss might seem huge for some people, which is one of the reasons of why waiting for bearish price action is a good idea. The risk/reward is pretty good with this setup as well. See the chart for more details.
Good Luck :)
Hello Traders,
We've got a bearish crab pattern completion at previous structure, looking left. Since the market looks pretty bullish for now, this setup could turn out to be invalid. Having said that, there are really good resistance levels that the market needs to break before hitting our stop loss. Looking for bearish price action at these levels is a good way to reduce your risk while increasing your potential profit. I'll be waiting for strong bearish price action at the 161.8 level before risking any capital. The stop loss might seem huge for some people, which is one of the reasons of why waiting for bearish price action is a good idea. The risk/reward is pretty good with this setup as well. See the chart for more details.
Good Luck :)