WallStScalper
Long

What's missing...? A wave 2 up!

FX:USDJPY   U.S. Dollar/Japanese Yen
597 9 3
An EW count and harmonic pattern going hand in hand on a 60 min chart of USDJPY            
It correspond to my daily USD/JPY             chart that shows the end of 5 wave up from 75.5 low to the 105.432 high.
In EW the 78,6 area is also very interesting having confluence with the 1.382 fib extension , but the right harmonis fib will be the 88,6 for the bearish shark pattern
As always ... time will show!

Safe trading ladies and gents!
BM

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tntsunrise TOP
3 years ago
is this a SHARK pattern?
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WallStScalper PRO tntsunrise
3 years ago
It was you chart that let me on to the idea of combining the two methods. I see this pattern ....http://www.niftypundit.com/uploads/1366164701.jpg
A bearish shark going only to the 88.6
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tntsunrise TOP WallStScalper
3 years ago
lol. tks. LE'TS SEE HOW
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dojitrader
3 years ago
I don't see the harmonic pattern. Which one were you thinking this tracks out ?
As for the EW I can see a 5 wave C wave in progress after an 5 wave A leg
and 3 wave B. *from the low @ 103.90* However, the A = C only projects to about 104.95.
thanks for your thoughts and have a profitable 2014 !!!
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WallStScalper PRO dojitrader
3 years ago
Thanks for your comment! I have just left and answer above concerning the same question.
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dojitrader
3 years ago
http://harmonictrader.com/sharkpdf.pdf
I have a hard time with Shark patterns, in this case
the deep X to A leg. The C leg does come in around former
resistance as the shark was meant to do, I guess. It will be interesting
to see if the shark or the A = C plays out.
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WallStScalper PRO dojitrader
3 years ago
if you see the my daily chart of USDJPY i've just published
I have left the option open for still need to have a wave 5of5 up.
If the bearish shak pattern is going all the way to the 1.13 fib then that could make sense too.... but time will show
Thanks for constructive comments!
Reply
Update on USD/JPY 60 min chart.
As stated yesterday: "In EW the 78,6 area is also very interesting having confluence with the 1.382 fib extension" That area has now been reached to the penny. Normally it means that lower highs are on the horizon. A wave 2 up could be finished now and a wave 1 of a 3rd wave down is on its way.
But stay flexible the bearish shark harmonic patterns minimum fib is the 88,6 retrace. Safe trading here!!! Let's give it some time to let it prove itself. After all the wave 3 of 3 could still be some days ahead.
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EW follow up
Back & forth - EW wave 2 of 3 Short term long before big short
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