the detail is shown in the above Chart.
I made this Idea based on Harmonic pattern using Fibonacci tools.
The Crab pattern is a reversal pattern composed of four legs, marked X-A, A-B, B-C and C-D.
Key elements of the Crab pattern:
The pattern can display rapid price action movement, and that often results in fast reversals at the PRZ.
I made this Idea based on Harmonic pattern using Fibonacci tools.
The Crab pattern is a reversal pattern composed of four legs, marked X-A, A-B, B-C and C-D.
Key elements of the Crab pattern:
B point that is a 0.618 retracement of XA or less
extreme BC projection that is typically a 2.618, 3.14, or 3.618
alternate 1.27 or 1.618 AB=CD pattern required
1.618 XA projection as the defining limit with the structure
C point with range between 0.382 and 0.886.
The pattern can display rapid price action movement, and that often results in fast reversals at the PRZ.
Trade closed: target reached
Note
"Oh, the weekly fluctuations of the Nifty index, tracing the trend lines and tapping into the golden Fibonacci levels. It resembles a captivating dance between the bullish and bearish forces, infused with the distinctive Fibonacci charm. We'll observe whether this dance results in a market downturn or an elegant recovery. Keep an eye out for the next development in this financial performance!"
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.