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Crab

Information is not investment advice

The Crab is another harmonic pattern that is derived from the Gartley pattern. The special thing about it is the long XA and CD swings. The point D is far away and lies beyond the starting point X. This is what differentiates the Crab from other harmonic patterns.

Crab.png

Here are the key parameters of a Crab pattern:

- Point B is at the 38.2-61.8% retracement of XA.

- Point C can be at the 38.2%-88.6% retracement of AB.

- Point D can be found at the 224%-316% extension of AB or at the 161.8% extension of XA. The closer D is to the 161.8% extension of X, the stronger is the signal of this pattern.

How to trade

The entry is at the point D. Always wait for the market to reverse from CD before opening your trade. Take Profit may be at 61.8% of CD (TP1), and 127.2% of CD (TP2). Put a Stop Loss in line with your rules of risk management.

Let's see how a Crab pattern may look on the chart. The point B is at the 61.8% retracement of XA. The point D is near the 161.8% extension of the XA.

Bull crab.png

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Quadruple witching is gone and now there are no reasons for the market to hinder. From banks statements and economic data to gas storage reading and Fed’s Powell speech – get ready for active trading.

Strong US Retail Sales Pressed Gold

The US showed strong retail sales for August despite the spread of the Delta virus strain. As a result, the US dollar rocketed and gold dropped by 2286 points in half an hour after the release.

What to expect from Monthly Retail Sales data?

The United States will release MoM Retail Sales data on September 16, 15:30 GMT+3.

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