Fxprotrader
Short

EURJPY: Pending Bearish Deep Crab Pattern

FX:EURJPY   Euro / Japanischer Yen
Price is heading up and it's about to complete a bearish deep crab advanced pattern , Advanced pattern work pretty well, but I have found out after the years, that they tend to work wonders when completing at key support and resistance levels. Below I am breaking down why this pattern has a great potential as it completes at a key support resistance zone give from the a long term downtrend and median line analysis.

SL & TP as shown in the chart. If price reaches the 1rst TP we move SL at BE to 2nd position.

Weekly Downtrend:


Validation of the upsloping median line:


Bearish Divergence. The uptrend is losing it's momentum:


Weaking of current uptrend. Resistance has stepped down (sliding parallel of median line ):


Key resistance zone consists of long term weekly downtrend and sliding parallel of median line:


Deep Crab completes into the resistance zone:


** Below you may find the link of my USDJPY             bullish Bat pattern drawn in the same fashion as the one of this post. It's already giving us 200+ pips profit and it's still has a good way to go.

All the best,
John

which time frame please for those patterns
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