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Strategies & Market Trends : Harmonic Trading with The Phoenix

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To: the-phoenix who started this subject3/31/2003 9:40:03 PM
From: the-phoenix  Read Replies (2) of 941
 
S&P Day Trade 3-31:

Here is the pattern that I was watching this morning, a Bullish "Crab" in the S&P E-Mini:

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The "Crab" is an extended Butterfly pattern, much as the "Bat" is an extended Gartley. I believe Scott Carney coined both of these terms and I hope I am not misusing them. The Crab had a tight Potential Reversal Zone between 839.5 and 840.75. Unfortunately, this zone was hit for less than a minute this morning before reversing higher. I had a buy order in at 840, but was not filled. However, I went long this morning with a target of 858 (.618 retracement of the CD leg.) The target was not quite reached, as the rally stalled at 857.25.
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