tntsunrise
Short

SPX500 COMPLETED SHARK PATTERN +AB=CD

FX:SPX500   S&P 500 index of US listed shares
3260 24 84
SHARK PATTERN
+AB=CD
Short SPX             NOW

USE 1.2 TIMES OF DAILY ATR AS SL DISTANCE
INSERT INDICATOR : AVERAGE TRUE RANGE and found the value , period 7

AIM 2057
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Completly Agree.Thanks for sharing Jack!Already have a few shorts and adding this one as well.GL!
Reply
Do you think we could possibly do an all time high....??? _^_^
+1 Reply
Jim777 PRO
5 months ago
where is stop
Reply
den_
5 months ago
.....USE 1.2 TIMES OF DAILY ATR AS SL DISTANCE
INSERT INDICATOR : AVERAGE TRUE RANGE and found the value , period 7
Reply
Traderholic
5 months ago
isn't that around 2130.0?
Reply
hankchef
5 months ago
ATR(7) = 30,
SL = 1.2*30 + 2127.6 = 2164?
too much..
+2 Reply
Vytasbcn hankchef
5 months ago
If you jump on 1H chart and follow it when you trade this daily setup, you could place a SL just few pips above the turn, as the price turned in the last 2h of trading and closed the last green candle. I did that, I cannot afford the SL at 2164. Then if you see that it starts turning back up, forming a reversal pattern, so close some positions for break even or get out, or decide if you want your SL to be triggered. If later you do not want to bother and look at the charts, after the first day down you could just leave SL in position or decide whatever your strategy is. I will do this way. R:R ratio is better, though you need to have a PC with you then.
Reply
hankchef Vytasbcn
5 months ago
yeah, I think about following the lower timeframe and set small stop-loss, which could be killed and reenter. Or just set a wide stoploss with small position size.
+2 Reply
Vytasbcn hankchef
5 months ago
I have already entered just before the market close, when I saw the price turning, so in that case few pips above the flip, there were no wicks (shadows) literally. I was very generous and gave it 50 pips SL from my position, but only 30 pips or so from candle bodies. And that is being generous, because there is weekend ahead, otherwise trading live and on this kind of entry I would maybe put the stops there, but move them after few hours (or just keep an eye on profits and close one of the positions when break even and relax. That is my plan for the Monday anyway: Watch closely, then break even if possible and then watch the price fall if all goes as planned.
Reply
Walentine hankchef
5 months ago
i agree
+1 Reply
Traderholic
5 months ago
Oh, I interpreted it as 0.2 * ATR
Otherwise it's a big stop loss! :-)
+2 Reply
Jim777 PRO Traderholic
5 months ago
I thought it meant 0.2 * ATR also, not 1.2 * ATR. Which is correct ?
Reply
grappa01
5 months ago
what's mean AIM (AIM 2057) ?
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salarfeen grappa01
5 months ago
Take profit
Reply
dsab
5 months ago
I would not short this pair just yet. It seems that it wil rise above the expected resistance level and take everyone's stoplosses out before the big drop will start. At least that is what I think.
+1 Reply
dsab dsab
5 months ago
Correction not pair but S&P500 index lol.
Reply
junp2010
5 months ago
no trigger, we need to wait.
+1 Reply
Walentine
5 months ago
no good R/R and no good harmonic wave
+1 Reply
watsonzou26
5 months ago
Just wondering if this trade is valid, Jack?
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Mohamed_Eman
5 months ago
Still Valid ?
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den_
5 months ago
I think the pullback is coming very soon as many already taking profits and many been stop loss or close its short position.
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FBO
5 months ago
Would you place the short now @ 2055 we had 3 pin bar yesterday on the 1H TF ?
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watchme3
4 months ago
with SPX ended on 2159 at 07/15 a shark pattern seems not that reliable...
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barby73
4 months ago
very big big stop loss hit here!!
Reply
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