The Harmonic Pattern CRAB is yet another discovery by Scott Carney and is identified by its long stretching swing points. In the crab pattern the PRZ level at swing/pivot point D is overstretched and shoots beyond the initial swing/pivot point of X.
The key characteristics used to identify the Harmonic Crab pattern are as follows::
AB leg can retrace anywhere between 38.2% up to 61.8%
BC can retrace 38.2% – 88.6% of AB leg
CD is an extension of up to 161.8% of XA leg and is an extension of 224% – 316% of the BC leg
After the crab pattern is established, traders can take their positions at or from point D (at the high or at the low of the price bar at D) targeting 61.8% and 127.2% of CD leg.
The key characteristics used to identify the Harmonic Crab pattern are as follows::
AB leg can retrace anywhere between 38.2% up to 61.8%
BC can retrace 38.2% – 88.6% of AB leg
CD is an extension of up to 161.8% of XA leg and is an extension of 224% – 316% of the BC leg
After the crab pattern is established, traders can take their positions at or from point D (at the high or at the low of the price bar at D) targeting 61.8% and 127.2% of CD leg.