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 Crab pattern completed about a week ago and now price is back at the PRZ again.
I like that there is a current falling wedge forming at support too.
Pair is currently forming a bullish deep crab formation that completes right at the structure support level. RSI must be oversold and diverging to confirm buy signal at these levels.
BUY @ 1.49340
S/L @ 1.48585
T/P 1 @ 1.50417
T/P 2 @ 1.51104
T/P 3 @ 1.51849
Following break of bearish channel pair is targeting major structure level, at 1.00500, that has been respected number of times in the past. Below that level pair is potentially forming Bearish Crab pattern completing right at 1.00500. Setup is meeting my trading and risk managment rules, and will be entering this with a limit order as cab patterns tend to be very...
Coty Inc., together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide.
What catch my eyes is $20 million share purchase in the last 3 month.
There is a massive amount of confusion in the market it seems. These numbers look to qualify for a Bearish Gartley, which would suggest a move to the upside before sending ETH USD to lower numbers.
With everyone calling for 100, 90, 80, is anyone looking the other direction? Trade wisely, heads up for the Stop Hunts.
Good Luck Traders!
Bearish Gartley...
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