I was looking to get since my previous short which worked out great (still in with a small portion), see linked idea.
I don't particularly like sharks since the entry and SL can be tricky, at least with what I know about this pattern (based on the pattern described by Scott Carney in trading vol. 2)...
My entry will be just above the 0.7000 round level. I see confluence from the , possible Quasimodo support, an "up" as seen in the monthly charts and a possible right shoulder of an pattern completing shortly (also see the idea from FullTimeTrader for the pattern).
In case we go further down to completion of the at the 1.13 ext. of 0X I would be tempted to enter another short but in that case we would have broken the longterm up which could limit the upside to a possible re-test of the , so beware if you wish to take that trade, I surely will adjust my position size accordingly!!
Targets and SL are on the chart.
In case we don't get below the recent low or in any case the possible completion point we could get a nice rally up to 0.7600 which is where a possible pattern could come together with a test of the 61.8% fib ret. of the last big move down (not entirely shown on the chart). A bounce from Quasimodo support usually also provides a nice rally to new higher highs. But that's of course all very hypothetical. For now the is the first pattern close to completion!