Technical Analysis Harmonic Pattern

In the previous post you have learned about the Elliott Wave extension. There you notice some patterns. Now I am discussing some different types of pattern and these are very useful. Since you are learning Forex for professional level and I am trying to you as many topics and tips on Forex thus you can make yourself Forex professional.
Do you see bats, crab, butterfly? Yes of course but why? Is it important? Yeah this is important. Sound like noise ...um.. bat, butterfly...
Let's turn on the Harmonic patterns.

*You must be use Fibonacci retracement level and extension for measuring these patterns.

*ABCD pattern: It is likely wave and AB length = CD length, AB length time need = CD length time
An AC length retracement is 0.61 and BD length is 1.27 Fibonacci.

*3 Drive pattern: A and B point retracement is 0.61, point 2 and 3 is 1.27
Drive 2 complete time = drive 3 complete time

 

*Gartley pattern: It is discovered by H.M.Gartley.It is inside ABCD pattern and based on W or M shape or structure overall.There are some rules for it:

*Move AB is 0.61 retracement of XA move.

*Move BC is either 0.38 or 0.88 level retracement of AB

*Move CD must be 0.78 level retracement of XA 

*Crab pattern: In 2000 Scott Carney discover this pattern.His observations are

*Move AB is either 0.38 or 0.61 level of XA move.

*Move BC is either 0.38 or 0.88 level of AB move.

*Move CD may be 1.61 extension level of XA move

*Bat pattern: In 2001 Scott Carney discover another patter.It is bat pattern.His own observations are

*Move AB is 0.38 or 0.50 level of move XA.

*Move BC is either 0.38 or 0.88 of move AB.

*Move CD may 0.38 of move XA.

*Butterfly pattern:It is discover by Bryce Gilmore.His own observations are

*Move AB may be 0.78 level retracement of move XA.

*Move BC is either 0.38 or 0.88 of move AB.

*Move CD may be 1.27 or 1.61 level of move XA.