WWE I think this is an outstanding growth stock, but worsening macro conditions in the mid-term may truly bring it down to a level that may very closely fit a bullish shark harmonic pattern. If that does in fact happen, and bear in mind this is a year or so away trade, I will absolutely load the boat with WWE stock sub-40. Again, it could be a bit of a stretch,...
A long waited for counter-trend trading opportunity appears as Bullish Shark pattern. So what? I shouted on the chart. ;P Lots of warning sign shows up and halt my decision to set a pending order - Buy Limit for this trade. Now, having the candle break and close below the previous low, officially place this trade to an end.
On the 4-hourly chart(left), a trend...
Both charts are on a trend trading setup in their own rights. Bearish Bat Pattern still stands within the sell zone.
Bullish Shark Pattern on a bullish shark on the final entry opportunity shall see how the setup unfold.
A Bullish Shark setup as a countertrend trade meets a descending triangle, a breakout to the upside or downside is required to have a clearer picture of where the market will move and that is because of the RSI is neither in the overbought nor oversold area.
Daily Chart(right) pose a bullish shark formation as a counter-trend trade To a nearer short-term(left) it does have a head and shoulders setup that present a counter-trend trade and I'm taking as a counter-trend trading approach and I'm going to shift stops to entry when market opens.
A bullish shark pattern that needed more confirmation and thing through that should it be engaged?
Sell Zone is near, if the candlewick touches the tip of the sell zone, I will be more reluctant to engage in this bullish shark setup.
Have you spotted that? If you don't perhaps more practice on charting is good then to jump right in.
Bearish Bat setup still valid for this as long as the market didn't break and close below C, which was covered by X of the bullish shark pattern.
In this chart, it does also show a Bullish Shark, so what will you do?
Trade what you see is what I love to say, further confirmation is required, but never forget the basic of support & resistance so everything is...
A bullish shark setup as a counter-trend trade is always good to wait for candle confirmation especially on a counter-trend trading opportunity that you can't spot any recent support when you look left.
The last opportunity for a bullish shark pattern forms up as a counter-trend trading opportunity.
I fully understand the pain of the real knowledgable shark trader but this is what it is, it has up to 3 potential buying opportunities and being a shark trader, you should look at all 3 if the previous failed. Psychologically wise, it can be a challenge.
3 counter-trend trading opportunity on USDJPY but let's look at the more recent 2, 1 on the 4-hourly chart, a bullish shark at 106.69 and a bullish butterfly at 107.11.
At this moment the candle shows a very nice setup for trend traders, a long shadow within the sell zone.
What will be your trade plan?
Finally, this Bullish Shark Pattern has formed as a counter-trend trading opportunity. 1st spotted this setup since 13March2019, how many traders would have the patience to wait it out for a confirmation to engage the trade?
By not most traders might have already forgotten it. 2 ways to approach the trade.
1) Engaged the Trade NOW
2) Wait for retest
Bullish Shark setup as a counter-trend trade setup. I will be taking conservative targets for this setup. Almost not interested in this setup due to the strong bearish candle approaching D.
However, I see:
1) ABCD has drawn towards the D Price completion
2) It came into the zone of support
3) It has a relatively great Reward:Risk
Given a choice, I will not gunner for a head and shoulders bottom, a bearish bat with a bullish shark at the same time.
It is what it is as all these 3 opportunities are valid. Let just look at the head and shoulders bottom setup, a great retracement that gives me the opportunity to engage the trade as a counter-trend setup.
Whether to stretch the target to the...