Crab Pattern
The Crab Pattern is a harmonic pattern in technical analysis that is used to identify potential reversals in the direction of an asset’s price. It is a complex pattern that is made up of five points, or legs, and is based on Fibonacci ratios. The Crab Pattern is considered to be one of the most reliable harmonic patterns, as it has a high success rate in predicting potential reversals.
History of the Crab Pattern
The Crab Pattern was first identified by Scott Carney in 2001. Carney is a renowned technical analyst and the founder of HarmonicTrader.com. He is credited with the discovery of several harmonic patterns, including the Butterfly, Gartley, and Bat patterns. The Crab Pattern is based on Fibonacci ratios, which are mathematical ratios that are used to identify potential support and resistance levels in the markets.
Table of Comparisons
| Pattern | Success Rate |
|---|---|
| Butterfly | 75% |
| Gartley | 80% |
| Bat | 85% |
| Crab | 90% |
Summary
The Crab Pattern is a harmonic pattern in technical analysis that is used to identify potential reversals in the direction of an asset’s price. It is based on Fibonacci ratios and is considered to be one of the most reliable harmonic patterns, with a success rate of up to 90%. For more information about the Crab Pattern, you can visit websites such as Investopedia, TradingView, and HarmonicTrader.com.
See Also
- Butterfly Pattern
- Gartley Pattern
- Bat Pattern
- Fibonacci Retracement
- Fibonacci Extension
- Fibonacci Fan
- Fibonacci Arc
- Fibonacci Time Zones
- Harmonic Trading
- Technical Analysis
