TRADE: EURUSD: Sell@1.16209 Completed Crab SHORT Trade

This bearish crab I mentioned several times in several posts has completed. Typical of crab patterns, prices completed the crab pattern explosively and extended into its' PRZ just barely short of reaching the 3.14 extension. Now there should be a period of retracement of the recent uptrend before the trend resumes.

***NOTE***: The trade entry point represents MY own entry point into this trade. If you decide you want to get in this trade, you must choose your own entry.

Note that the TP1 of this crab is right at/near the previous upper trend line of the former triangle pattern. I would expect that prices would retest the broken triangle pattern as is typical seeing as that trend line was former resistance area and now could be seen as support.

MY TRADE PLAN
I will expect that prices will reach the TP1 at least. The TP2 I am not so sure. One thing I am sure is that this uptrend has a LONG WAYS to go and I am still VERY BULLISH on this pair as I have been for weeks now. Once prices hit the TP1, I will watch the price action for clues as to the trend resuming. If so, I will close my SHORTS and look for opportunity to get LONG again.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I will know my posts are useful to you. Doing so will encourage me to post more! As always, all constructive comments are welcome. Agree or disagree.