Bearish Crab Pattern (1H)
The Crab is a precise Harmonic pattern that was discovered by Scott Carney in 2000.
The Crab is a distinct 5-point extension structure that utilizes a 161.8% projection of the XA leg exclusively. This is the most critical aspect of the pattern and the defining level in the Potential Reversal Zone (PRZ).
The extreme (261.8%, 314%, 361.8%) projection of the BC leg compliments the 161.8% extension of XA.
Due to the extremity of the projections utilized in the completion of the pattern, the Crab frequently experiences sharp price action and dramatic reversals.
It is common for price action to possess extreme ranges, quickly testing the Crab PRZ during the reversal. In fact, the price action experienced in Crab pattern completions is usually the most extreme of all of the patterns.
Despite the typically severe reversals, the focus of the pattern’s completion should examine the 161.8% projection of XA.
ENTRY = 1.18152
STOP = 1.18434
TP1 = 1.17696
The Crab is a distinct 5-point extension structure that utilizes a 161.8% projection of the XA leg exclusively. This is the most critical aspect of the pattern and the defining level in the Potential Reversal Zone (PRZ).
The extreme (261.8%, 314%, 361.8%) projection of the BC leg compliments the 161.8% extension of XA.
Due to the extremity of the projections utilized in the completion of the pattern, the Crab frequently experiences sharp price action and dramatic reversals.
It is common for price action to possess extreme ranges, quickly testing the Crab PRZ during the reversal. In fact, the price action experienced in Crab pattern completions is usually the most extreme of all of the patterns.
Despite the typically severe reversals, the focus of the pattern’s completion should examine the 161.8% projection of XA.
ENTRY = 1.18152
STOP = 1.18434
TP1 = 1.17696
Note
TP1 & TP2 hit, 75% of position closed.Note
Break below the pattern completes the reversal, remaining short position closed ... Trade fermée: cible de profit atteinte
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.