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.
The orange harmonic is a "Deep Crab" and the aqua harmonic is a "Shark" - One of these patterns will invalidate the other
Price action must not close below (if advancing to the Deep Crabs ratios) below the PRZ or there is a high probability it will continue to the next, the same applies vice versa if it is advancing to the aqua Sharks ratios, price action must ...
Crypto market reversal between June 28th - Sept 12th & between USD 2055 - USD 2900 ?
The price passed point B level for this Deep Crab Bullish pattern.
One may ask: Who wouldn't buy cryptocurrencies if BTCUSD goes down to USD 2055 to 2900 and buying signals then show up? ;)
I have adjusted the timing on the PRZ box between 1.618 and 3 here...
I have not adjusted ...
GBP/NZD is currently forming a bullish deep crab pattern on the 4h chart, providing a trading opportunity with a 1:2.8 risk to reward.
The measurements for a valid deep crab are detailed below.
B: 0.886
C: 0.382 - 0.886
D: 2.0 - 3.618
X to D: 1.618
This is another setup to keep on the watch list! We are close to confirming the PRZ, once we do we can ...
Finally, a decent long opportunity for GBP/USD. A bullish
Crab Pattern has emerged, however, there is still a chance
of price dipping lower once more, especially with all the
upcoming news as well as tomorrow's BoE interest rate
decision.
Nonetheless, technically at least a long opportunity is
available, note also the bullish divergence on the MACD,
which ...
Absolutely picture perfect deep bearish crab with bearish divergence on natural gas futures. They price reacts extremely well when approaching the potential reversal zone which gives this pattern a little more confirmation.
Measurements:
- 1.618XA
- 2.24BC
- 1.27AB=CD
Crab formation at EURUSD. Waiting for the Sell Stop at the orice of 1.21962 to be executed.
Aggressive trade with 1:1 R/R. Looking to get at least 70 pips in the reversal.
Euro has been on a tumble this week.
I got hit with a loss on EURUSD long early week.
However I am still convinced Euro is heading higher this week as professional traders often like to buy low during a period of negative news release.
Therefore I will be camping higher to short EURAUD on this deep crab pattern.
A deep crab pattern is characterized by a 0.886 ...
GBPJPY has just landed both a near to perfect Bat pattern as well as a Deep Crab pattern - both completing at the same levels.
Right now we are watching at a first reaction from the PRZ, that I´m personally not involved with, but will probably see a retest of the complete zone
before we hopefully get another (Type 2) reaction.
We have no clear trend so standard ...
