UPDATE: EURUSD Bullish Crab + Almost Complete Bullish BAT

2 ביולי 2015

UPDATE: Trade is still on since the NFP failed to take out the bullish Crab. Looking to reach Target #1 before the weekend.

Here's a Bullish BAT on the 1HR TF that is just....almost....there! BUT...I don't think it's gonna complete. Here's why:

On the 4HR chart, there's a bullish morning star candle pattern right almost EXACTLY where the C point of the large bearish CRAB pattern is. And almost EXACTLY where I pinpointed the the end of the B wave of the corrective 2nd ABC zigzag!

With this bullish morning star pattern, I would expect prices to go up from there. The low point of this morning star ends at 1.10310 whereas the .786 of the BAT is at 1.10232. Missed by only 7.8 pips. So can't say the BAT is complete. But does it matter? IMO, no. It does not matter concerning the market direction.

Oh, and if you are wondering what all those lines and patterns are behind the BAT, check out my "Related Ideas" where I posted complete analysis on this pair and why I think the next move is up.

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