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Jun 10, 2017 11:59 AM

EURUSD - Potential bearish shark pattern  Short

Euro Fx/U.S. DollarFXCM

Description

There is a potential bearish shark pattern on EURUSD that would complete up at 1.12455, which looks to me to be a retest of a broken support/resistance level.

If EURUSD can pull back up to 1.12455 I'm entering short and aiming for the bearish targets from the daily chart (two patterns)

- Bearish Wolfe Wave (yellow) Geo's Off-Set Rule #3 target (1.09058)
- Bearish Harmonic Bat (purple) standard 0.382 and 0.618 targets (1.09241 and 1.07012)

Comment

FOMC nonsense wrecked my shark entry, but reinforcing my bias for a short is another bearish Wolfe wave on the 4-hour:

Comment

Aggressive entry on the 30-min below the trendline


Conservative entry on the 4-hour on the break and retest of the trendline

Comment

For the record I'm already short. Stop at 1.13, original targets from the daily.
Good luck all! :-)

Comment

30-min breakdown

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