NYSE:YOKU   YOUKU TUDOU INC
312 12 3
The yellow SHARK played out very nicely. Now, it looks like a Butterfly is in play.
thanks a lot . I have a question , can we consider this pattern as a shark and the C didn't reach 1.13 of AB ?
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KLang PRO hussain9
The measure tool in the ab+cd is incorrect. I ALWAYS measure with the fib tool before drawing the pattern. In fact, I'm not going to use the ab=cd drawing tool anymore as it just throws people off. I'm just using the triangles to draw harmonics now.
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For my simple opinion its not a shark pattern even if we used the fib. If we toke a larger frame , weekly , we are going to find a beautiful Bearish Crab .

snapshot
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KLang PRO hussain9
I'm sorry - but this doesn't make sense to me. The PRZ has already been hit on the formation you drew. There is no target associated with the reversal itself. I don't understand where you've come up with this PRZ.
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yeah you are correct because scott carney didn't talk about it , but only some harmonic traders proficiently using it .

http://www.mbc66.net/upload/uppng2/cTW37851.png

it was an excellent discussion with u . Thank you .
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KLang PRO hussain9
Oh that's very interesting. It could be the case. Who's methodology is this?
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As you know in every completed pattern there is reversal and another PRZ point entry like this :

snapshot


and about the method you asked me about , I learned it from the best harmonic traders , no name for it but it talks about the target price after finishing the harmonic pattern .
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KLang PRO hussain9
That's interesting - I've never seen reversal targets after reaching PRZ - in fact, I often see price simply make a small retrace and forge ahead again, which why I much prefer to play to the PRZ rather than the actual reversal itself. It seems to be more reliable. You obviously have more experience than I with these harmonics - but I do like them very much.
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you have to hunt them again because after every completed pattern there is a correction and a change in the trend that you don't want to miss it . wishing for you the best luck .
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