Bearish pattern overlap in GBP-USD 4 H chart.

FX:GBPUSD   British Pound / U.S. Dollar
525 1 1
Shark pattern (orange) and Crab pattern (grey-blue) overlap. The Shark has a big reversal zone up to the 1.113 extension. So one could try to get in right at the beginning with a smaller R/R ratio or one could wait for the Crab to complete, which would be also precisely at a "Double Top" position. This would result in a better R/R than the Shark . The Target should be maximum of 0.5 retracement of the last move up from the bottom, which we do not know yet. So better define latest resistance for now at the grey-blue X as a target.
Awaiting to see if the chart follows the shark pattern or crab pattern. Waiting for entry :) .. hope this works .
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
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