TerryHarmonicTrading
Short

GBPUSD - Bearish Shark short at 1.2270

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
Hey traders, we have an opportunity to short GBPUSD             next week.

On H4 , we are shorting near the extreme high of the ED channel.
On H1, we see a bearish shark completion around that level.

Also, we the level I am looking to short just happens to be at last week's high.

With all these factors in place, I want to monitor the zone between 1.2260 - 1.2270 for a potential short.

I will not use a pending order and I will be looking out for the 2 criterias below to happen before going short.

1. RSI divergence at PRZ
2. Candlestick reversal in in zone

Will keep you guys posted when it reaches my zone.

Already set an alert on tradingview to update me when it happens.
Trade active: Just went in on a retest of 1.2270.

SL at 1.2320
TP at 1.2160

Good luck guys.
Trade closed: stop reached: Got stopped out on this, -50 pips.
Hi Terry, one quick question. Is the 88.6~113% of XA or XC in a Shark Pattern?
Reply
It is XC
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pipstrading TerryHarmonicTrading
thank you!
Reply
shorted now , thank u mate
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I am very innocent and new in harmonic patterns please guide me about good books. stuff. softwares and very personal harmonic research.;) i am more interested to know the failure of harmonic reasons, God bless you all.
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http://news/articles/2016-11-02/brexit-bulletin-the-view-from-berlin
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Stoploss & target for the pattern ?
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hi. i have a few question, in this chart pattern why XD leg is 0.999 ? how calculate it ? thz
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Hi, the Shark pattern has 3 potential reversal zones.

It is

1. 161.8 of BC
2. 88.6/100/113 of XC

Look for RSI divergence at either of the 3 zones before execution.

You can refer to the measurements here.
http://www.harmonicforex.com/the-shark-pattern
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KhunHunSein TerryHarmonicTrading
thank for reply
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