12 Apr 11 - Bearish Crab Pattern on EUR/USD - M15 Chart

I was looking to short this pair on a potential Bearish Bat Pattern setup initially. However, after the Terminal Price Bar (T-Bar) completion, there was not sign of a reversal (as indicated in the light blue circle) and thus the trade was aborted.

However, after the price action breached the PRZ of the Failed Bearish Bat Pattern, it was met with a intraday resistance at the 1.44726 to 1.44827 region and completed a Bearish Crab Pattern which prompted a short position on this pair.

The setup to go short on this pair on the completion of the Bearish Crab Pattern was the "Dark Cloud Cover" candlestick signal following the T-Bar.

Trade Details

Date: 12 Apr 11, GMT 10:30
Entry Price: 1.44567
S/L: 1.44900 (33.3 pips)
T/P: 1.43890 (67.7 pips), Intermediate T/P at 1.44161 (40.6 pips) region to cover half the position.

Trade Update

The S/L was triggered on this position, resulting in a loss of 33.3 pips.