Shark 113 extension with a potential 5-0 pattern

FX:EURGBP   Euro / British Pound
Reading the chart
After a failed push (B) of only 113% extension of O to X, price almost immediately reversed to the other direction, breaking the secondary bearish trendline . Now the 88.6% retracement of O to B could not bring any relief from the bullish pressure.

The second level to watch for is the 113% extension of B to O, which could lead to a completion of a bearish Shark pattern at 0.7183. It is also possible that the primary trendline could deliver resistance. If this level holds, there is a good chance that the pair will make a reciprocal AB=CD and therefore a the 5-0 pattern is almost certain.

entry: 0.7183
minimum stoploss: 0.7216
target 1: 0.7094 (risk:reward 1:1.48)
target 2: 0.7039 (risk:reward 1:2.4

Trading notes

Cool! Nice work! Im currently short from around 0.7135's structure looking left...
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out