Education

# EJ SHORT + LESSON ON SHARK / CYPHER

FX:EURJPY   Euro / Japanese Yen
1896 7
How to determine the difference between a shark and a cypher as they are very similar. If I have time I'll try to catch the 5-0 trade on this one also. Extra addition: as you can see there were a lot of sellers in the 0.886 retracement too (as it is the first entry spot for a shark ). You can determine if this is a false selling point by using the ABCD .

You sell at the 1.13 retracement from the XA leg, as Sharks tend to evolve into 5-0 patterns I trade this with only 1 profit target (near the 0.5 retracement of the CD leg) and then go long.
Ths not a valid B leg.
I have the same concerns.
My understanding is that the D point is measured from XC and not XA.
Hi bertusch

thanks for your great job and explanations.

I've read in several sites that cypher pattern is drawn with 78.6 of XC and not of XA.
what can you say about that ?

I’d want to know if the 88.6 and 1.13 of the shark pattern are also drawn from XC or from XA ?

thx
With respect..........SHARK.....starts with '' o '' where you X is. Your A should be designated X Your D then becomes C! The 5-0 is at D!! Thats how the SHARK is defined by its discoverer!
BBFX
True. As the 5-0 is essentially a shark. And the shark is a start of the 5-0. But to standardize the harmonic pattern business and in this specific case (the difference between a shark and a cypher) I call the 0 point the X point. The shark, cypher and 5-0 are difficult patterns to master because they are so alike and they are class 2 patterns. The essence of this lesson was to point out that there is a ABCD or three drives pattern in the D leg which helps you determine where your D (or C point in the correct perspective) is. But thanks for pointing it out, it is a valid point!
Can u share ur ROE for shart pattern.

From my understanding based on ur chart.

For Shark, ABCD <-

the Shark D leg is equal to the fib ext of XC Cypher = 1.13 <- this is the entry level.

but for shark BC retracement<- is there a rule for it ? such as must hit 38.2 and not hit 50 pr 61.8 fibs level/

thx for sharing

theb0x
No it's the 1.13 retracement from the XA leg. The C point is the 1.13-1.618 extension from the XA leg (cypher is 1.27 - 1.41). There is no rule for the B point retracement. Cyper patterns have a rule, at 38.2 -61.8 retracement from the XA leg to be a valid Cypher, however, the Shark does not have such a prequisite and therefore the Shark Pattern and Cypher pattern overlap. The ABCD pattern in the D leg helps you identify if it is a Cypher pattern (which reverses at 78.6 retracement of the XA leg) or a Shark pattern (which reverses between 88.6 and 1.13 retracement of the XA leg. I hope its clear.
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