The initial entry on the right shoulder of the pattern has not yet reached it's first target, having closed below the neckline the Bears now have confirmation for a second entry at the retest of the neckline. The opportunity for the retest was created by the Bullish pressure of the Butterfly pattern linked to below. Experienced traders should use the entries to...
“ The Deep Crab pattern evolved from two patterns (invalid Bat patterns and a specific type of Crab pattern). It was developed by Scott Carney 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...
The Butterfly pattern , is a harmonic pattern discovered by Bryce Gilmore using his Wave trader software program. The pattern structure was further refined using specific Fibonacci levels by Scott Carney which he outlined in his book 'The Harmonic Trader', published in 1998. The Butterfly pattern must include an AB=CD pattern to be a valid signal. In general,...
The Bat Pattern , is a precise harmonic pattern discovered by Scott Carney in 2001 The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ). The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection. In addition, the AB=CD...
The Shark Pattern was initially released in 2011 by Scott Carney in his Patterns into Profits course. The pattern is the primary structure that precedes a 5-0 formation. This structure is outside the typical M and W framework. It possesses a unique formation called an Extreme Harmonic Impulse Wave that retests defined support/resistance while converging in the...
The Shark Pattern was initially released in 2011 by Scott Carney in his Patterns into Profits course. The pattern is the primary structure that precedes a 5-0 formation. This structure is outside the typical M and W framework. It possesses a unique formation called an Extreme Harmonic Impulse Wave that retests defined support/resistance while converging in the...
The Alternate Bat pattern is a precise harmonic pattern discovered by Scott Carney in 2003. The pattern incorporates the 113% XA retracement, as the defining element in the Potential Reversal Zone (PRZ). The B point retracement must be a 38.2% retracement or less of the XA leg. The Alternate Bat utilizes a minimum 200% BC projection. In addition, the AB=CD...
The Butterfly pattern , is a harmonic pattern discovered by Bryce Gilmore using his Wave trader software program. The pattern structure was further refined using specific Fibonacci levels by Scott Carney which he outlined in his book 'The Harmonic Trader', published in 1998. The Butterfly pattern must include an AB=CD pattern to be a valid signal. In general,...
There are many interpretations of the Head & Shoulders Pattern. After much research and back testing I have created a simple process using bespoke levels to objectively identify and trade the pattern. Through extensive research into Harmonic patterns (in particular the Butterfly ) I have discovered how to accurately predict where the H&S pattern will occur. The...
There are many interpretations of the Head & Shoulders Pattern. After much research and back testing I have created a simple process using bespoke levels to objectively identify and trade the pattern. Through extensive research into Harmonic patterns (in particular the Butterfly) I have discovered how to accurately predict where the H&S pattern will occur. The...
ENTRY = 1.18213 STOP = 1.18494 TARGET = 1.17646 The Shark Pattern was initially released in 2011 by Scott Carney in his Patterns into Profits course. The pattern is the primary structure that precedes a 5-0 formation. This structure is outside the typical M and W framework. It possesses a unique formation called an Extreme Harmonic Impulse Wave that retests...
The Crab is a precise Harmonic pattern that was discovered by Scott Carney in 2000. The Crab is a distinct 5-point extension structure that utilizes a 161.8% projection of the XA leg exclusively. This is the most critical aspect of the pattern and the defining level in the Potential Reversal Zone (PRZ). The extreme (261.8%, 314%, 361.8%) projection of the BC leg...
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 Crab is a precise Harmonic pattern that was discovered by Scott Carney in 2000. The Crab is a distinct 5-point extension structure that utilizes a 161.8% projection of the XA leg exclusively. This is the most critical aspect of the pattern and the defining level in the Potential Reversal Zone (PRZ). The extreme (261.8%, 314%, 361.8%) projection of the BC...
The Butterfly Pattern on the 1H time frame adds confluence to the deeper retest of the entry on the 4H Gartley. Entry: - 1.17854 Stop: - 1.17541 TP1: - 1.18293 TP2: - 1.18565 To view a basic Tutorial on how to identify this pattern click the chart below ...
Price has already made a reaction to the initial test of the entry. I would expect a deeper retest of the entry before the main upward move commences. Entry: - 1.17882 Stop: - 1.17529 TP1: - 1.18377 TP2: - 1.18682 To view a basic tutorial on how to identify this pattern click the chart below ...
Although I am not as much a fan of harmonic patterns as when I first began trading this pattern again appears to meet the criteria perfectly. Through back testing I have found the Bat pattern to have a success rate of 62%, I would consider this a medium to high probability trade and as such will be committing a maximum of 5% capital to this trade. Entry:...
Completed triangle pattern used as confluence for entry on further analysis.