The Crab market strategy like any other harmonic pattern is a four-leg reversal pattern that follows specific Fibonacci ratios. A proper Crab pattern needs to fulfill the following three Fibonacci rules:
AB= retrace between 0.382 - 0.618 Fibonacci Retracement of XA leg;
BC= minimum 38.2% and maximum 88.6% Fibonacci retracement of AB leg;
CD= Poses a target between 2.24 - 3.618 Fibonacci extensions of the AB leg or an ideal target of 1.618 of XA leg.
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AB= retrace between 0.382 - 0.618 Fibonacci Retracement of XA leg;
BC= minimum 38.2% and maximum 88.6% Fibonacci retracement of AB leg;
CD= Poses a target between 2.24 - 3.618 Fibonacci extensions of the AB leg or an ideal target of 1.618 of XA leg.
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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.