the detail is shown in the above Chart.
I made this Idea based on Harmonic pattern using Fibonacci tools.
The Crab pattern is a reversal pattern composed of four legs, marked X-A, A-B, B-C and C-D.
Key elements of the Crab pattern:
The pattern can display rapid price action movement, and that often results in fast reversals at the PRZ.
I made this Idea based on Harmonic pattern using Fibonacci tools.
The Crab pattern is a reversal pattern composed of four legs, marked X-A, A-B, B-C and C-D.
Key elements of the Crab pattern:
- B point that is a 0.618 retracement of XA or less
extreme BC projection that is typically a 2.618, 3.14, or 3.618
alternate 1.27 or 1.618 AB=CD pattern required
1.618 XA projection as the defining limit with the structure
C point with range between 0.382 and 0.886.
The pattern can display rapid price action movement, and that often results in fast reversals at the PRZ.
Trade closed: target reached
Fibonacci ratios are one of the most powerful and easiest trading tools in your investor’s toolbox. It provides excellent guidance for when a trend will end and reverse course.
GOOD LUCK.
SEYED.
GOOD LUCK.
SEYED.