The crab pattern is an explosive pattern because once the D point has been developed we should see a quick trend reversal that has the potential to generate big profits.
Price entered the PRZ and surpassed the minimum requirement (76.25) for completion of Crab pattern. Low today (75.95) was also near the ideal level of 75.65/75.70 (1.618 of XA)
Let's see if the...
It has activated a Bullish Cypher in hourly time frame. As long as its above 923 it can retest 945/950
Cyphers are 5 point Harmonic Patterns based on fibonacci ratio alignments
The Butterfly pattern can be found near key market reversal points, usually at intermediate highs and lows. The appearance of the butterfly pattern indicates reversals when it is validated. The chart below gives an illustration of the Bullish and Bearish butterfly patterns.
Probable Bullish Butterfly Pattern forming in hourly TF near Daily support zone.
Worth...
After a correction from the recent high the Nifty is likely to complete Bullish ABCD pattern around 11625. Therefor we may witness some recovery from that levels.
