As of 06/01/2020
Indus: 25,475 +91.91 +0.4%
Trans: 8,966 3.88 0.0%
Utils: 815 +8.41 +1.0%
Nasdaq: 9,552 +62.18 +0.7%
S&P 500: 3,056 +11.42 +0.4%

YTD
10.7%
17.8%
7.3%
+6.5%
5.4%

27,000 or 24,000 by 06/15/2020
9,800 or 8,200 by 06/15/2020
850 or 750 by 06/15/2020
9,800 or 9,000 by 06/15/2020
3,200 or 2,850 by 06/15/2020

As of 06/01/2020
Indus: 25,475 +91.91 +0.4%
Trans: 8,966 3.88 0.0%
Utils: 815 +8.41 +1.0%
Nasdaq: 9,552 +62.18 +0.7%
S&P 500: 3,056 +11.42 +0.4%

YTD
10.7%
17.8%
7.3%
+6.5%
5.4%
 
27,000 or 24,000 by 06/15/2020
9,800 or 8,200 by 06/15/2020
850 or 750 by 06/15/2020
9,800 or 9,000 by 06/15/2020
3,200 or 2,850 by 06/15/2020
 
Initial release: 8/9/2018. Statistics updated on 4/6/20.
This article describes my analysis of the bullish crab pattern as described by publicly available information and common sense rules to determine valid patterns. Additional rules may or may not improve performance. I tested the pattern using only the below identification guidelines.
The bullish crab can resemble a double top chart pattern except that the turns are located using Fibonacci ratios. It's very rare, and you'll need a computer with pattern recognition software to fine it.
The breakout direction is downward 68% of the time, so the pattern is bearish, not bullish.
Bullish Crab: Important Bull Market ResultsOverall performance rank for up/down breakouts (1 is best): 32 out of 48/18 out of 46
Break even failure rate (up/down breakouts): 11%/22%
Average rise/decline: 40%/15%
Throwback/pullback rate: 54%/66%
Percentage meeting price target (up/down breakouts): *54%/*12%
The above numbers are based on over 500 perfect trades with upward or downward breakouts in a bull market. See the glossary for definitions. * I used the height of the pattern to determine a target after a breakout. 
Because of the many ratios used, the pattern is rare. I found 500+ of them since 1990, but some of those were from a bear market. The statistics in this article only apply to bull markets.
You'll need a computer with software to find the pattern.
Find five peaks/valleys where the ratio of one leg to another is one of the Fibonacci numbers listed in the figure. However, I used a 3 percentage point window on the last ratio to keep the sample count high.
Characteristic  Discussion  Bullish Crab Ratios

Peaks/Valleys  The peaks and valleys in the pattern need not be consecutive. This is not a guideline, but an observation.  
XAB  Price drops to valley X, the first point in the pattern. It rises from there to A and retraces to B. The retrace value is shown in the figure  
ABC  Turn ABC shows a CB/AB retrace of one of the following Fibonacci ratios shown.  
BCD  Extension CD/CB is one of three Fibonacci ratios.  
XAD  Retrace AD/AX is 161.8%. 
I don't offer much trading help because I'm new to this pattern.
My tests show that the pattern breaks out downward 68% of the time. What does that mean? A close below the bottom of the pattern means a downward breakout. So price has to drop from the low at D and close below it. An upward breakout means a close above the top of the pattern (A).
Price may rise after point D, and that happens 69% of the time. The average rise above D is 39%.
You may have better luck with the pattern if underlying support is near the XD valleys.
The figure above shows an example of a bullish crab pattern, XABCD.
Here are the high/low prices of the various turns
Here are the ratios.
AB/AX = (41.9039.60)/(41.9038.65) or 70.7%, using the low at B. Using the high at B, we get: (41.940.23)/(41.938.65) or 51%. The highlow range encompasses the 61.8% retrace, so I allow it.
CB/AB = (41.3639.60)/(41.9039.60) or 76.5%, using the high at C. The low at C gives (40.8939.60)/(41.9039.60) or 56%, which encompasses the 70.7% retrace, so I allow this.
CD/CB = (41.3636.62)/(41.3639.60) or 269.3%. However, the highlow range of D (41.3638.95)/(41.3639.60) or 136.9% encompasses the 261.8% retrace, so it's allowed.
AD/AX = (41.9036.62)/(41.9038.65) or 162.5% which is within three percentage points of 161.8%, so it's allowed.
This bullish crab is one of the few that breakout upward. Notice that price has to rise from D to close above A to stage an upward breakout. That's why upward breakouts only happen about a third of the time.
Price breaks out upward at E and throws back to the breakout price and keeps dropping, to F before recovering slightly. Recently, the stock has been below the breakout price, as the chart shows.
 Thomas Bulkowski
See Also

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crab is a registered trademark of Scott Carney.
If it jams, force it. If it breaks, it needed replacing anyway.