Crude Oil Short Trading Strategy based on Harmonic Pattern
The Alternate AB=CD Pattern
AB leg : lower price 61.74 - 85.41c
CD leg: 62.43 - 91.83 = 1.27AB
The Bearish Crab Pattern( W-type formation , XABCD )
X: 79.23 the starting point of The Crab Pattern
A: 62.43
B: The mid-point B @ 73.35, 0.618 retracement of XA leg.
C: 0.618 retracement of AB leg
D: 3.618 BC projection @ 92.49
AB leg : lower price 61.74 - 85.41c
CD leg: 62.43 - 91.83 = 1.27AB
The Bearish Crab Pattern( W-type formation , XABCD )
X: 79.23 the starting point of The Crab Pattern
A: 62.43
B: The mid-point B @ 73.35, 0.618 retracement of XA leg.
C: 0.618 retracement of AB leg
D: 3.618 BC projection @ 92.49