Today, we have USD news. The idea is to buy the rumor and sell the news. We have B: 50%, C: 71%, D:161.8%...
The crab pattern
Another Scott Carney discovery, the Crab follows an X-A, A-B, B-C and C-D pattern, which allows traders to enter the market at extreme highs or lows. The most important feature of the crab pattern is the 1.618 extension of the XA movement that determines the PRZ. In its bullish version of the Crab, the first leg forms when the price rises sharply from point X to point A. The AB leg retraces between 38.2% and 61.8% of XA. This is then followed by an extreme projection of BC (2.618 - 3.14 - 3.618), which identifies a valid area for the completion of the pattern and the potential reversal of the current trend. (info by IG)