BoonHooi
Short

GBPCHF - Type 2 Bearish Shark + Bearish Bat Pattern

FX:GBPCHF   British Pound / Swiss Franc
I was eyeing this Bearish Shark yesterday. I guess the Article 50 completed the patterns and it reacted to the PRZ.

Pattern Identification
The bearish Shark completed yesterday when the price went up to 1.2420.
It immediately reacted to the levels and dropped.

Now there is a smaller bearish Bat (in green) completing at the same level 1.2420.
Also a Type 2 trigger for the Shark pattern

Trade execution
Again, I would like to see a price reaction at the PRZ to confirm that it is a good resistance turning point. Let's monitor this together
Comment: I was on the road yesterday and could not update this trade.
Anyways, there was no trade, the signs were there to avoid the trade

Price just went higher, through the PRZ and never respected the PRZ.
A huge warning sign to avoid the trade

Comment: Better image to see the candlesticks

Hey BoonHooi, Do you mean that the price never reached the PRZ again in Type 2 and therefore you didn't consider the trade right? It looks like the candle at 11:00 almost entered the PRZ again and then the price moved in our direction and reached your TP1 and only then changed and went up through the PRZ. Thanks :)
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