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.
NSE:SRF
BEARISH DEEP CRAB SRF CMP 3009.60 @ 18/6/19
PRZ 3023 TO 3025 SL 3219 T1 2800 T2 2650
SHORT TERM HOLDING IN CASH
CHART BY HARMONIC LEARNING AND EARNING
Bearish Deep Crab pattern on 4H Chart of SBILIFE. SELL 723-724, SL 727.1, Target(s) - 719, 716.
I starting learning Harmonics some days ago and just observing currently, how the price action works here and thereby trying to refine on my Target(s), SL and entry levels.
Hi all, NTPC making completion B wave of ABC structure and Head and Shoulder and Crab Pattern breakout to the upside make potential long opportunity
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--Prabhu Rajarathinam
Bullish Deep Crab pattern forming on 4H chart of BANKNIFTY. Buy around 28410-28430. My last BANKNIFTY idea didn't come exactly to my buying levels but reversed perfectly from 30 points away to almost giving 300 points. Let's see what happens this time. Do not enter if it doesn't come to price. Let it come to the levels and then enter.
I starting learning...
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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