TerryHarmonicTrading
Short

AUDUSD - Bearish Shark at $0.8095

FX:AUDUSD   Australian Dollar / U.S. Dollar
Hi guys, was flipping my charts around and saw an interesting setup on AUDUSD             .

This is a bearish shark which is about to complete very close to $0.81.

This is how I will trade this.

How to trade the bearish shark setup on AUDUSD?

1) Wait for price to hit PRZ level around $0.8090 -$0.81
2) Lookout for volume divergence around this level (Price hit $0.81 but volume drops considerably)
3) Enter after price completes a bearish candlestick pattern which closes on the low

EP: 0.81 (Very close to this level, no reaction at this PRZ level no trade)
SL: 0.8150
TP: 0.7980
Trade active: Went in after the red bar completed after fomc around 0.8050. Hoping for a nice ride even though I did not bother to find out what was the news during fomc. I set my TP to open and am willing to hang on to this for awhile.
Comment: Adjusted my TP to 0.7815
Comment: Still moving down nicely. I will be taking profit off my positions at 0.7815 - 0.7820.
Trade closed: target reached: Target at 0.7815 nicely reached. +235pips
well done mate!
great trade
Reply
@jose, thanks. Did u join me in this trade?
Reply
jose TerryHarmonicTrading
@TerryHarmonicTrading, Sorry Mate Of course with U!
Reply
jose jose
@jose, sorry for late answer
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Hi, could you send it (the pdf rules :) ) to me too lutestphone@gmail.com,, I am learning everyday. I like your analysis thank you for sharing.
Reply
lubk TerryHarmonicTrading
@TerryHarmonicTrading, Thanks a lot
Reply
i dont know what HP this but very nice setup
Reply
@jose, this is shark pattern,a type of harmonic pattern.
Reply
jose TerryHarmonicTrading
@TerryHarmonicTrading, yes mate I know what is harmonic patterns (HP)
I tired sarcastic
but failed
:-)
perfect entry
Reply
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