The Crab Pattern is a volatile 5-point extension structure that was discovered by Scott Carney in 2000. It has specific Fibonacci measurements for each point within its structure and it is important to note that D is not a point, but rather a zone in which price is likely to reverse, called the Potential Reversal Zone (PRZ). The B point retracement of the primary XA leg lies between 0.382 and 0.618 and the PRZ consists of 3 converging harmonic levels: 1) 1.618 extension of the primary XA leg, 2) AB=CD pattern, either equivalent, 1.27 or 1.618 and 3) Extreme BC projection of 2.24, 2.618, 3.14 or 3.618.
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. Common stop levels lie behind the next structure level after the D point or the 2.0 extension of XA. Conservative traders may look for additional confirmation. These patterns can be bearish and bullish. TradingView has a smart XABCD Pattern drawing tool to visually identify 5-point reversal structures on a chart.
A Contra bet!
CMP: 165.75 (Red dotted line - Below PRZ)
PRZ: 167.5 - 171.50 (Black lines)
SL: 158 (Red thick line)
T1: 193 (23.6%) | T2: 208 (38.2%) (Blue lines)
T3: 220 (50.0%) | T4: 233 (61.8%) (Pink lines)
The charts posted by me are only for learning and not for trading purposes!
I am not responsible for any trade action taken by anyone whomsoever on the...
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Thanks for watching the video and your precious time.
Colpal Crab Pattern
Wait for Weekly Candle close to close below 1217-1218
T1 - 1180
T2 - 1149
T3 - 1117
T4 - 1073
Before executing trade Beware that SL is 5.6%
so you have been warned in Advance about the Loss you will face
Note - Pardon me - Only Non Vegetarians are allowed to see the stuff - Just kidding- It is just a piece of analysis.
Plan to buy the oily crab, can be good for health for 295 -297 zone as it is highly negotiated price zone - if you get it could be awesome just remember -prices should not dip below 290's as precaution.
Trading Strategy
Plan 1
Buy in the zone 295...
Bullish Crab pattern is developing at the lower trend line of the parallel Channel. It is showing strength as 3LR bar is formed. RSI is also coming back from oversold zone. All these suggests a trade with good probability of target
Entry 128
SL 122
Target 146
RR Ratio 3
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy...
I could be very wrong... but this is a possibility.
Please note that this analysis only addresses Price and not Time. I don't know when these levels will happen but I do think they will happen. Nifty could drop to about 100000 before rising to 12000+
The fact is that fundamentally our economy is getting into deep trouble with crude rising, the Iran issue (India...
So Crab Pattern is Taking Shape !!
and Potential Reversal Zone is Already a Strong Resistance Zone
So Lets Wait !
IF and ONLY it Take a Shape.. Test PRZ top Line
Hit the Sell Button !!
wish you Luck !!
Stop Loss
and 1st Target and 2nd Target is on Chart.
n I have Already Shown a Resistance Zone
Happy Hunting ;)
FX:AUDUSD
Disclaimer... this is an idea, a potential pattenr formation and the possibilities according the the criteria requiredhas been mentioned in the chart
not an investing/trading recommendation
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