Shark, Crab & Potential Bearish 5-0 @ 50% retracementt

The Shark pattern is relatively new Harmonic Pattern created by Scott Carney in 2011, where
he used a mixture of Elliot Waves theories and Fibonacci numbers to create this brand new
pattern with relatively high success rate.

1. A qualified Shark pattern consists of an impulse leg (XA), followed by a retracement
leg (B) that has no specific value.
2. That is followed by a continuation leg (C) that must at least reach the 113% Fibonacci
extension of the BA leg without exceeding the 161.8%.
3. Next, a Fibonacci retracement of X to C is drawn. The qualified Shark pattern must
reach 88.6% of the XC Fibonacci retracement and it cannot exceed the XC 113% extension.

4. Next, draw the BC Fibonacci extension. The key to this pattern is the 161.8 extension
of the BC Fibonacci extension. It must reach a minimum of 161.8 and it cannot
exceed 224%
5. The area where the BC Fibonacci extension and the XC Fibonacci retracement
overlaps is known as the PRZ. This is the zone where we look to enter our trades.

Scenario 1
When the BC extension reaches the 161.8% level before the XC 88.6%, we look to execute
the trade off the XC 88.6% level
BC 161.8%
XC 88.6%
Look to enter your trade after the XC 88.6% is reached.
Scenario 2
When the BC extension reaches the 161.8% level after the XC 88.6%, we look to execute the
trade off the XC 100% level (Green Line).
XC 88.6%
BC 161.8%
XC 100%
Scenario 3
When the BC extension reaches the 161.8% level after the XC 100%, we look to execute thetrade off the XC 113% level
XC 100%
BC 161.8%
XC 113%

Here the Shark has reached the 161.8% Extension before the 88.6% so we enter at the 88.6%