The Shark pattern has the following ratios.
BC leg extends AX leg between 113% – 161.8%
CD leg extends beyond X by 113% of the XA leg
CD leg is also an extension of BC by 161.8% – 224%
Unlike other harmonic patterns, the trades are entered as follows:
Entry is at 88.6% of XA leg with stops coming in at point D
Targets can be 61.8% of CD
BC leg extends AX leg between 113% – 161.8%
CD leg extends beyond X by 113% of the XA leg
CD leg is also an extension of BC by 161.8% – 224%
Unlike other harmonic patterns, the trades are entered as follows:
Entry is at 88.6% of XA leg with stops coming in at point D
Targets can be 61.8% of CD
Comment:
T1 hit