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A potential bullish deep crab pattern is getting close to completion on the monthly time frame.
I am just keeping an eye on this right now as opposed to taking any action.
The PRZ – Potential Reveral Zone (area in blue) is very wide – we’re looking at a monthly chart.
I would look for reversal candles or other confirmation before taking any action. Lower time frames can be used to fine tune entries.
This is about identifying a reversal area (counter trend) – the intention being to enter the subsequent bullish up trend early on. If the trade materializes, the profits are enormous – indicated on chart.
We’ll see how this one plays out.