EUR/GBP
The "bullish crab" is a pattern in technical analysis used by traders to forecast potential price reversals in financial markets, particularly in stocks or cryptocurrencies. It's considered a harmonic pattern and is identified by specific Fibonacci ratios between price waves.
Here's a brief overview of its characteristics:
- The pattern typically consists of four price swings or legs labeled XA, AB, BC, and CD.
- The AB leg retraces a portion of the XA leg by a Fibonacci ratio (usually 38.2% to 61.8%).
- The BC leg extends beyond the XA leg, often by a Fibonacci extension ratio of 2.24%.
- The CD leg retraces a portion of the BC leg, usually around 38.2% to 88.6%.
- The pattern resembles an inverted "W" or a sideways "M," with the CD leg typically being longer than the AB leg.
When traders spot a bullish crab pattern forming, they interpret it as a signal that the price may reverse higher. However, like all technical analysis tools, it's not foolproof and should be used in conjunction with other indicators and analysis methods for making trading decisions.
Here's a brief overview of its characteristics:
- The pattern typically consists of four price swings or legs labeled XA, AB, BC, and CD.
- The AB leg retraces a portion of the XA leg by a Fibonacci ratio (usually 38.2% to 61.8%).
- The BC leg extends beyond the XA leg, often by a Fibonacci extension ratio of 2.24%.
- The CD leg retraces a portion of the BC leg, usually around 38.2% to 88.6%.
- The pattern resembles an inverted "W" or a sideways "M," with the CD leg typically being longer than the AB leg.
When traders spot a bullish crab pattern forming, they interpret it as a signal that the price may reverse higher. However, like all technical analysis tools, it's not foolproof and should be used in conjunction with other indicators and analysis methods for making trading decisions.
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