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RE: USD/JPY: Bullish Deep Crab

in #forex8 years ago (edited)

Hey @attalis, yes it's just a different type of harmonic pattern, the D leg is a very extended price move therefore the shape will be different from others you have seen.

My stop loss is calculated based on the D point completion and my take profit levels are obtained by measuring from A to D using the fibonacci retracement tool, with the ratios 0.382 and 0.618 as the final take profit.

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thanks so would you only go long at point D or would you be short now already until it reaches that point. (I hope i am seeing point D correctly as it is quite small ;))

Yes I would wait until price confirms the price level at D, hopefully this will complete by Monday :)