There's two Harmonic Pattern(Crab & Gartely) has Mid point B - 61.8% retrace of XA. In this case, this one is not Gartley caused of the price crossed over the 0.786 of XA leg.
Let's talk on a Crab pattern:
Introduction of Crab: The critical aspect of this pattern is the tight Potential Reversal Zone created by the 1.618 of the XA leg and an extreme (2.24, 2.618, 3.14, 3.618) projection of the BC leg but employs an 0.886 retracement at the B point unlike the regular version that utilizes a 0.382-0.618 at the mid-point. The pattern requires a very small stop loss and usually volatile price action in the Potential Reversal Zone.
The current ratio of fib.
MidPoint B at 61.8%
The 0.886 projection of the BC leg.
1.618 AB = CD more it (In fact, the AB=CD calculation is probably the least important in the Crab than all other patterns.).
The price is trading nearby 2.24 fib ratio at R 2418 and next Reversal Zone 2483 and 2570,
Hi there :)
so I am currently looking at the chart. currently it seems to be a Wulfe Wave in a circle. Let us surprise.
Piyushjain26
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its too typical for layman please make it a bit more understandable
lavkush
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your D is at 2646..
hospitalityforu
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I too followvyour views ,very seriously & do know a bit the harmonics & prz ,fm othee advisors but if you cud mk it little investors friendly ,then it wd be simple.thanks
roshan333
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please make it shimple...beacause all traders dont have full knowledge of patterns in candle stick...so pls explain in simple words
so I am currently looking at the chart. currently it seems to be a Wulfe Wave in a circle. Let us surprise.