April 2010
Intermediate to advanced
288 pages
5h 42m
English
book
Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets
by Scott M. Carney
Content preview from Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets
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Chapter 7. The Crab Pattern
The Crab is a precise harmonic pattern that I discovered in 2000. The Crab is a distinct 5-point extension structure that utilizes a 1.618 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 (2.618, 3.14, 3.618) projection of the BC complements the 1.618 XA extension. In addition, the Crab primarily utilizes an Alternate AB=CD to complement the PRZ. Although a minimum AB=CD completion is necessary for a valid structure, the Alternate 1.27 or 1.618 calculation are the most commonly found variations in the PRZ. In fact, the 1.618 AB=CD pattern is the most common alternate calculation utilized in the structure. ...
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