EURNZD
The pattern I am analyzing is the Deep Crab Pattern, which is one of the key harmonic patterns used in technical market analysis. I’ll break it down step by step according to the Fibonacci levels and market direction:
X to A:
This represents a strong upward move that sets the foundation of the pattern. It is the initial leg of the movement.
A to B:
Here, we see a significant retracement reaching 88.6% Fibonacci retracement. This is a critical level that defines the position of point B.
B to C:
The next movement also retraces to 88.6% Fibonacci retracement of the A to B leg. This confirms that point C is correctly aligned to complete the structure.
C to D:
At this stage, the market is moving toward point D, which typically extends to 161.8% to 224% Fibonacci extension of the X to A leg. This is the final target zone for the Deep Crab Pattern before a potential reversal occurs.
Key Observation:
The direction I am predicting is downward until point D is reached. After reaching D, the market may reverse or recover upward, depending on the strength of the market.
Trading Strategy:
Point D is the optimal zone for traders to either close their existing trades or open new ones.
It is essential to watch the market closely and look for additional technical confirmations to validate the potential reversal
X to A:
This represents a strong upward move that sets the foundation of the pattern. It is the initial leg of the movement.
A to B:
Here, we see a significant retracement reaching 88.6% Fibonacci retracement. This is a critical level that defines the position of point B.
B to C:
The next movement also retraces to 88.6% Fibonacci retracement of the A to B leg. This confirms that point C is correctly aligned to complete the structure.
C to D:
At this stage, the market is moving toward point D, which typically extends to 161.8% to 224% Fibonacci extension of the X to A leg. This is the final target zone for the Deep Crab Pattern before a potential reversal occurs.
Key Observation:
The direction I am predicting is downward until point D is reached. After reaching D, the market may reverse or recover upward, depending on the strength of the market.
Trading Strategy:
Point D is the optimal zone for traders to either close their existing trades or open new ones.
It is essential to watch the market closely and look for additional technical confirmations to validate the potential reversal
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