GBPJPY - POTENTIAL SELL
Price reached a 4 Hours Order Block and it has completed a SHARK Harmonic Pattern that shows potential reversal.
SHARK PATTERN
X - The highest point
A - the lowest point
B - around 50 Fib from XA - is not the most important point
C & D are the most important points
C is lower than A and the distance AC = 1.13-1.618
D - between 1.618 - 2.24 on Fib extension for BC; it cannot be bellow or above
XD = 0.886-1.618 - it cannot be bellow or above
Once D is completed , we look for a potential trend reversal.
ENTRY ZONE - is the 4H order block area.
We need to wait for the following:
1- price has to go at least at 50% into the 4H order block
2 - price has to BOS- break structure downwards in 15 MIN
3 - price has to retrace to at least 38-61% GANN BOX LEVELS
STOP LOSS
above the X point (add the spread) or above the 4H Order Block
TARGETS
TP1 - 32.8 level of CD Fib retracement
TP2 - 50 level of CD Fib retracement
TP3 - 61.8 level of CD Fib retracement
If TP align with 15 MIN order blocks is another confluence
#SMARTMONEY
#GBPJPY
#INSTITUTIONALLEVELS
#SHARKPATTERN
#HARMONICPATTERNS
SHARK PATTERN
X - The highest point
A - the lowest point
B - around 50 Fib from XA - is not the most important point
C & D are the most important points
C is lower than A and the distance AC = 1.13-1.618
D - between 1.618 - 2.24 on Fib extension for BC; it cannot be bellow or above
XD = 0.886-1.618 - it cannot be bellow or above
Once D is completed , we look for a potential trend reversal.
ENTRY ZONE - is the 4H order block area.
We need to wait for the following:
1- price has to go at least at 50% into the 4H order block
2 - price has to BOS- break structure downwards in 15 MIN
3 - price has to retrace to at least 38-61% GANN BOX LEVELS
STOP LOSS
above the X point (add the spread) or above the 4H Order Block
TARGETS
TP1 - 32.8 level of CD Fib retracement
TP2 - 50 level of CD Fib retracement
TP3 - 61.8 level of CD Fib retracement
If TP align with 15 MIN order blocks is another confluence
#SMARTMONEY
#GBPJPY
#INSTITUTIONALLEVELS
#SHARKPATTERN
#HARMONICPATTERNS
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.