Using the 15m Bearish Crab at the 224% projection of BC gives an excellent, now risk free entry, to this 1H bearish Gartley.
This trade should only be considered as a hedge to those already running longs in profit.
Perfect Bearish Deep Crab adding confluence to the 1H Bearish Gartley.
Using the 224% BC projection for entry offers a great short hedge which is now risk free.
Adding confluence to the Daily Crab , this Deep crab has hit the required measurements of 161.8% XA, AB=CD 127.2% and the 261.8% BC projection.
Reversals of this magnitude are generally volatile processes and take a considerable amount of time.
Expect a large amount of choppy movement as the bears begin to take control back from the Bulls.
Higher time frame...
The Higher time frame analysis I publish is to be used to form a bias for trading on the intraday time frames.
Price has managed to hit the first take profit level of the Gartley, continueing the bullish momentum beyond the entry level for the Daily Bearish Butterfly.
The strength of the bearish pressure at the 1.21226 entry level of the Butterfly has managed to...
The Higher time frame analysis I publish is to be used to form a bias for trading on the intraday time frames.
Price has been rejected multiple times at the Butterfly entry line (127.2% XA) and at the 224% BC projection.
Although the 224% BC projection aligns closely with the 127.2% XA extension, price may potentially push higher to the extreme 261.8% of BC...
Drawing my bespoke fib from the high of the previous entry to the new low allows me to scale in with a third entry at the 50% retracement level.
Following the same process as the previous entries I now have 3R profit secured with more than a full sized risk free position running.
ENTRY 1:-...
Drawing my bespoke fib from the high of the previous entry to the new low allows me to scale in with a second entry at the 50% retracement level.
Following the same process as the initial entry I now have 2R profit secured with a full sized risk free position running.
Through my research whilst studying Scott Carneys Harmonics methods I devised the 50% retracement system.
This system allows me to enter higher time frame patterns with considerably smaller stops.
Entering at the 50% retracement with a stop at the 25% allows me to create a risk free position by closing 50% at 2R (100%).
I carry out this system on the 1m time...
The standard Take profit targets for most of the major harmonic patterns is 38.2% and 61.8% of AD.
My personal preference is to use 2R and 4R as demonstrated in this live chart.
Closing 50% of my position at 2R allows the remaining 50% to be risk free, alleviating any stress that arises from having capital at...
The Gartley Pattern , is a harmonic pattern discovered by H M Gartley and outlined in his book 'Profits in the Stock market', published in 1935.
The pattern was further defined using specific Fibonacci levels by Scott Carney which he outlined in his book 'The Harmonic Trader', published in 1998.
The pattern incorporates the 78.6% retracement of XA, as the...
The Bat Pattern , is a precise harmonic pattern discovered by Scott Carney in 2001
The pattern incorporates the 88.6%XA retracement, as the defining element in the Potential Reversal Zone (PRZ).
The B point retracement must be less than a 61.8%, preferably a 50% or 38.2% of the XA leg. The Bat utilizes a minimum 161.8%BC projection.
In addition, the AB=CD...
“The Deep Crab pattern evolved from two patterns—invalid Bat patterns and a specific type of Crab pattern that Scott Carney developed as a further refinement of the basic structure. The Deep Crab is similar to the original Crab pattern, as it is a 5-point extension structure that utilizes exclusively a 161.8% XA projection for the defining level in the Potential...
