A Bearish Shark Pattern complete on the 8 Rangebar charts is a perfect setup for scalpers. A trade setup is a trading setup after all. The setup completed at 83.92, if you are late to the trade, it's better for you to sit out of this. The reason for that is because the profit isn't a lot and by entering late, in the long run, you will jeopardise your trading portfolio.
As mentioned before, Shark Pattern can have as many as 3 different entry prices. Lucky for us, this is the only opportunity left for this setup. There's no need to rush into the trading setup, we could wait for market confirmed by seeing the candlestick break and close below the PRZ zone(rectangle at Point D) and retest back to the entry price.
The descending triangle has evolved into a Bearish Shark pattern, which is even better. It gives us a more defined stop loss level and target taking level. I might stretch the Final Target Level. Check out my previous analysis at the link below to see how the market evolved but not exactly invalid the trend. And how patience pays off.
The NASDAQ 100 is forming a potential Right Shoulder in a Potential Inverted head and Shoulders formation that if it breaks out of could send it on a path to break the ATHs and hit the 1.13 Fibonacci Extension which would be the Target of a Shark BAMM.
We have a MACD bearish crossing up here after testing the PCZ a few times and getting rejected.
Traders are obsessed with corelation in trading, and for many years that relationship has been weaken to a state of pointlessness. As you can see the the NZDUSD has not completed the Bearish Shark Pattern setup, but the AUDUSD has a completed Bearish Shark, traders can now wait for a checkback at 0.7556. If you head to the 4-hourly chart, the candle is seated...
Counter-trend traders could wait for a Bearish Shark shorting opportunity at 0.7138. Trading from Point C to Point D of the Shark Pattern is a dream of many newbie Harmonic Pattern traders. Well, you might just have an opportunity as the candle respect the trendline. You could wait for a 3-bar reversal on the 4hourly chart for a buying opportunity. In this case,...
WOW! This is a BIG one! A Shark Pattern on the Daily Chart is no joke!! Before we engage the trade, we need preferably a candle spike touching 0.7556 for the shorting opportunity. And it will be even better if the spike did not manage to close above the structure on the 4-hourly(UTC+2) chart!!
This first entry got stopped out and now MP Materials is higher, however it is now hitting the 1.13 retrace and may be setting up to come back down within the range if this is a false move like i expect it is. I will officially call the trade off it it trades above the level of $62 and my profit taking targets will be first $30 then $10. I will be trading this in...
RSI is moderately extended and we've had a mad amount of volume come in on that wick test to the PCZ, from the looks of it WTI is setting up for a major reversal.
If you reside in Malaysia or you have commitments in Malaysia, it is a great opportunity to prepare at least 3months' worth of Malaysia Ringgit for your expenses. 3.11 is a great rate if money allows, if not, and if the spread is reasonable, you might be able to benefit it from trading.
If you had read my previous analysis, this is how Shark Pattern works, when the Shark Pattern hit its stop loss, it may present you another trading opportunity of a further entry price. The problem with most trader is the hesitance to engage the trade, and I can understand that, you just got stop out. You aren't certain if this should be the trade to take. The...
A Bearish Shark retest on the AUDCAD gave me an opportunity to reverse my trade. You see, I was in a Bullish Trade(you can check out the related ideas titled AUDCAD - Bullish Bat at the bottom of the @TradingView post) The market seems not able to close beyond Point D of the Bearish Shark Pattern on the 1hourly- chart for an extended period of time. I've been...
How about waiting for the Bearish Shark Pattern to complete and using the Combo Trade Management to engage the Shark Pattern on the 1hourly chart(check related link).
Will I engage in this Bearish Shark check back on the AUDCAD, time will time. Really. I'm waiting for the 11am(GMT+8) candle open to decide.
Don't feel bad if you have missed the Bearish Shark Pattern movement, especially if you have deliberately avoided it. I believe you would have regretted if you had long instead of shorting the Shark Pattern because you saw the news that the Bank of England had planned to increase the bank interest rate. It is important that you know to stay out of news trading,...
It is important to wait for Candle Confirmation even on the most familiar currency pair and most familiar setup. The close of the current candle will determine if the Shark Pattern is valid. The Bearish Shark Pattern formed at 1.3177 and was confirmed once the candle closed at 1.3173. As this is a 1-hourly chart setup at 1700(GMT +8) or latest by 1900, it will...
This is the trade I'm talking about, check the link at the bottom if you have no idea what I'm talking about. The Shark Pattern at the Weekly Chart Resistance. It is a trade that I'm going to follow closely.