EURAUD SMALL SHARK

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Long

Euro Fx/Australian Dollar (FX:EURAUD)

FX:EURAUD Euro Fx/Australian Dollar

LONG AT 1.434-1.4371

WAIT RSI TO BE OVER SOLD

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Was wondering what you think . . .
I've been noticing, but have no hard data, that when sharks have
a deep retracement for A to B there is a much greater probability
of point D to extend to the 1.13 of C to X.
Have you noticed such a pattern ?
Thanks for your thoughts !!!

dojitrader

yes. the normal shark will use 1.618 - 2.24 BC, however, i found this DOULBE 1.13 REFLECTION occurs a lot.
which means C= 1.13ab, and D = 1.13 BC, and it has quite high chance to revert at this point.

dojitrader

Hey Trader, looks like this pattern worked again! just nice to filled my long order at 1.4375 and now it reversed! 50 pips +

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