1. Find the point X at the bottom and point A at the top of a strong bullish trend. 2. 1st Retracement is not higher than the 61.8% of point X. 3. Point C should be confirmed at the 113% to 161.8% retracement area of A. 4. Point D should be confirmed at the 161.8% to 224% retracement area of B. 4a. Point D should be confirmed at the 88.6% to 113% retracement...
"The Harmonic Pattern CRAB is yet another discovery by Scott Carney and is identified by its long stretching swing points. In the crab pattern the PRZ level at swing/pivot point D is overstretched and shoots beyond the initial swing/pivot point of X. This is the main key difference between other harmonic patterns. The crab pattern, while easy to identify requires...
TIP #3. This tip is mostly connected with the rules. You don’t need to invent your own rules, because all rules are already invented. You just need to choose a set of rules that suits best to your personality. How can you know what rules suit your personality? Do backtesting. Scroll the chart back in history and trade the Market using this set of rules as if real...
This is not a forecast that the pattern will complete. This is just an illustration of the harmonic 5-0 pattern. (Price could go in any direction from current levels). The Pattern The first requirement for the pattern is a new low that exceeds the prior low( Point B and X) Point B should be within the range of 1.13 and 1.618. Shouldn't exceed 1.618...
A bearish Cypher pattern is forming on this popular currency pair. It may look a bit weird, but it all points from X to C lign up nicely for a cypher pattern formation. Whether it will complete or not, I wanted to use this opportunity to give an explanation on this pattern. How do you recognize a cypher pattern ? The Cypher pattern was discovered by Darren...
I've already written my "Trading Recap" blog post for today but I wanted to share something with you guys. For you guys that have been following along with my blog you know that I've been working on an article looking at professional athletes and professional traders. One of my main comparisons is the amount of preparation and review that both do. Just like...
hi there it is me chrystael again. i made this out there for people to benefit and learn from. gotta say something about the CRAB. guess you like eating a crab, you can as well do it in the market. happy learning people. Crab is one of the most successful harmonic patterns it is rare to find and has a good completion and profitable rate it is a trend...
How to determine the difference between a shark and a cypher as they are very similar. If I have time I'll try to catch the 5-0 trade on this one also. Extra addition: as you can see there were a lot of sellers in the 0.886 retracement too (as it is the first entry spot for a shark). You can determine if this is a false selling point by using the ABCD. You sell...