FX:NZDUSD   New Zealand Dollar/U.S. Dollar
33 2 0
sorry for the wrong title, it should be NZDUSD~does anybody can tell me is it bearish pattern?thank you~
dojitrader
2 years ago
The pattern, as you have outlined, is probably not a valid pattern
in that pt C does not tap the 1.13 fib ext of X to A. It is only a couple of pips
above but I've found that bending this "rule" severely reduces the successful results.
Some traders would say itis close enough to call it a Shark and place pt D @ .886 fib
of C to X which would be around .8334
Personally I'm watching for the possibility of a Bat completing as in this example.
Obviously several hours away
Wishing you lots of pips in your pocket !!!!
snapshot
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dojitrader dojitrader
2 years ago
I meant to include:
If you're interested these websites have lots of good free stuff
about harmonic patterns. I've learned a lot from these and other sites.
http://harmonictrader.com/
http://www.trade-forex-harmonic-patterns.com/harmonic-trading-tips-shark.html
http://neoharmonics.com/learning/chapter-2-fibonacci-harmonics/
http://thepatternsite.com/index.html
Best of Luck !!!!
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