Hello traders, just an update on AUD/USD 0.10% with a bearish shark pattern on the 1h chart.
Price has now reached resistance at the D point, I'm expecting price to sell-off from the current level.
The measurements for a valid shark are detailed below.
C: 1.13 - 1.618
D: 1.618 - 2.24
Final X to D: 0.886 - 1.13
This pattern could potentially turn into a 5-0 in the near future.
Keep an eye on this one, I hope you all have a great week!
Price has now reached resistance at the D point, I'm expecting price to sell-off from the current level.
The measurements for a valid shark are detailed below.
C: 1.13 - 1.618
D: 1.618 - 2.24
Final X to D: 0.886 - 1.13
This pattern could potentially turn into a 5-0 in the near future.
Keep an eye on this one, I hope you all have a great week!
Trade closed: target reached:
Very successful trade, resulting in 120 pips profit. I'll now be looking to go long (see the chart below for details).
📈 Master the Art and Science of Trading: www.sixfigurecapital.com
This pattern will more than likely turn into a bullish 5-0, I suggest everyone closes their position around 0.76200.