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MohdShoaib
Feb 18, 2021 9:06 AM

Bank Nifty Bullish ButterFly Pattern | Crap Long

Nifty Bank IndexNSE

Description

The crab is considered by Carney to be one of the most precise of the patterns, providing reversals in extremely close proximity to what the Fibonacci numbers indicate.

In a bullish pattern, point B will pullback 0.382 to 0.618 of XA. BC will retrace 0.382 to 0.886 of AB. CD extends 2.618 to 3.618 of AB. Point D is a 1.618 extension of XA. Take longs near D, with a stop loss not far below.
Comments
Market-Thalaivaa
Banknifty had a corresponding bullish AB=CD in same zone.
MohdShoaib
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