Bullish SHARK Pattern in EURUSD
Updated
After a bearish AB=CD pattern, it is expected EURUSD to have an ascending move from support cluster area
at 1.1030-1.1050 where RSI and MACD show divergence . Especially a Bullish SHARK pattern is forming with D point at 1.1030-1040 area. If this pattern is confirmed, EURUSD can reach to 1.1180-1.1200 area again. Stop loss must be set at 1.1028 point where the pattern will be failed.
Trade active
Good comeback from support area!The pattern is valid yet, note that 1100-1130 is a resistance area in the EURUSD toward its SHARK target and the price reacted to it.In fact this is TP1 and the main target at 1180-1200 needs more time to reach and absolutely we expect EURUSD to hit that!
Trade closed: target reached
Hi. How do you feel after some SHARK hunting? ;-) Our targets are met in a few days with a sharp move which is a feature of sharks!
from 1030 to 1200 there was a 170 pip distance and EURUSD traveled that and went far from there to 1250 .
GOOD LUCK.
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