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Tiberious
May 17, 2016 11:43 AM

GBPJPY Bearish Shark Short

British Pound/Japanese YenFXCM

Description

Although Shark patterns are often avoided due to complications in idenitifaction there seems to be a valid and completed shark pattern on GBPJPY 15 min charts, The D point found confluence and is supported by a potential 2.618 trade which is currently in play. If I were entering this trade after this late identification of the pattern I'll be looking for a .618 retracement from the double top to downleg for a bounce continuation towards the shark patterns T1 and T2s.
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