Good afternoon guys. Doing some generic charting today, I am looking at this bullish shark pattern. This pattern is a long way away from hitting, but will be a good buy for some position traders if price hits the expected PRZ.
The PRZ is aligned with strong support on the weekly and monthly time frames. There will also be potential for this pattern to turn into a bearish 5-O. I will update the analysis when this occurs!
Shark ratios:
C = 1.13-1.618
D = 1.618-2.618
X to D = 0.886-1.13
Have a look at the overview below for my overview of the pair!
Thank you.
The PRZ is aligned with strong support on the weekly and monthly time frames. There will also be potential for this pattern to turn into a bearish 5-O. I will update the analysis when this occurs!
Shark ratios:
C = 1.13-1.618
D = 1.618-2.618
X to D = 0.886-1.13
Have a look at the overview below for my overview of the pair!
Thank you.
Comment:
See price structure below:
