The Crab Pattern is one of the most effective harmonic patterns. It is a reversal pattern that consists of four legs – A-B, B-C, C-D, and X-A. The Crab Pattern – Scott Carney also discovered the Crab Pattern.A temporary reversal of trend, before continuing on its original direction, precedes the Bat Pattern formation. The Bat Pattern – Scott Carney discovered this pattern.Bearish Gartley Pattern appears in the shape of M while bullish Gartley Pattern’s shape resembles W. It forms right after a significant high or low. The Gartley Pattern – Harold McKinley Gartley introduced this pattern.You can only find this pattern at the end of a trend move. The Butterfly Pattern – Bryce Gilmore introduced this pattern.However, only a few types have stood the test of time because they frequently form on the charts. There are several types of harmonic patterns. They enable traders to initiate a position in a high probability reversal zone. Furthermore, these patterns are trend reversal patterns. Harmonic patterns, if correctly identified, help traders understand price action and predict the direction of the price. A harmonic pattern forms on the basis of geometric price action and Fibonacci retracements/ extension levels. Harmonic patterns are specific patterns or formations that form naturally on financial charts. Indicators for TradingView What are harmonic patterns?
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