Get started

Shark

Thoughts on EURUSD (Bearish possibilities)Hello again! I have this deep analysis on EURUSD on 2 possibilities to go short based in my analysis on trend analysis, chartism and mostly harmonic patterns. I'll explain the 2 scenarios I have and take notes for it to be possible. Possibily 1: Last week an ideal bullish AB=CD pattern with 0.618 : 1.618 ratios was formed and if it still goes up it could complete a shark pattern entry 2 that coincides with the ending if an AB=CD pattern with ratios 0.382 : 2.24 is also formed. The zone is by itself really harmonic, but we have to wait carefully and I'm expecting it to react at 1.08210. Although is looks like a really good zone to sell, there are 2 ways that this analysis could be invalidated (either the price falls under previous low formed or it is not formed until june 8th). Anything is posible in the market, so I recommend to watch out that zone in blue. Possibility 2: Remember that I shared a bearish idea because of a rising wedge and it has hit TP1, but because it hasn't gone up, it's still valid and that's possibility number 2. If the price falls under previous low (invalidating possibility 2), we can expect the price to retest at 1.0705 and go to the final TP on the rising wedge. I recommend you to wait for candlesticks confirmation and then sell. Now if it goes up and consolidates between and nothing interestingly happens, then discard both possibilities, I'll update if necessary. Do you have any other ideas? Let me know on the comments.
Short
by pinoso
1
GBPUSD-Weekly Market Analysis-Jun22,Wk1A Bearish Shark Pattern has been completed and I'm waiting for a check back at 1.2652 for a trading opportunity that could head towards a potential Head and Shoulders setup on the daily chart and a Bullish Gartley pattern on the 1-hourly chart. The order of the move makes a great difference on the profit potentials. The best outcome would be the Gartley Pattern on the 1hourly chart, 1.2573 forms up before the check back of the Shark Pattern on the 4-hourly chart, which is the current timeframe for the maximum income potentials.
Short
by RaynLim
(Episode #556) GBPAUD - Bullish SharkThis is a very different Weekly Market Analysis, seldom do I share a Weekly chart setup but this is special and close to my heart, a Shark Pattern on GBPAUD Weekly Chart. The Bullish Shark Pattern is valid, if you have deep pockets, you can consider this trade, you are looking at more than 1,000pips of potential profit to only Target1. Yes! You read it right, more than 1000pips of profit potential. Personally, I will be watching this trade closely in the lower timeframe for a trading opportunity. This could be my trade of the year.
Long
by RaynLim
THoughts on AUDUSD (Bearish possibility)After a bullish market, I think we can have a bearish position right in the pullback. We have a harmonic set-up. There's a PRZ as a shark pattern entry 1 at the 0.886 that coincides with the 1.618 of the BC projection. If we look at the market where it is now at lower frames we can see an AB=CD pattern with 0.50 retracement and 2.00 projection exactly at the zone of the shark pattern entry zone. If we see price action, the previous resistance was retested as a support and the expected projection would be near the PRZ spotted. I think there's a lot of coincidences. So I believe that zone would be potential for a short position. We just have to wait for the market confirmation to go to the zone and expect a candlestick pattern or at least indecision candles.
Short
by pinoso
GBPUSD-Weekly Market Analysis-May22,Wk4Last week if you have gone through my analysis and engaged the market when it tested the buy zone(cyan box), you would have earned 159pips of profits in just the 1st target. If you have missed that setup, you can wait for the next opportunity. The Bearish Shark Pattern on the 4-hourly chart gives trend traders an opportunity to engage the market. However, I do not like to see consolidation before the completion of any Harmonic Patterns. I'm waiting for a shorting opportunity at 1.2582 on the Shark Pattern, more than ever a candlestick confirmation is required.
Short
by RaynLim
UAA, bullish retest falling wedge. Under Armor, a stock I have been watching closely. Multi-year falling wedge breakout and retest. Volume is screaming capitulation coming into 07 high of $9.28. RSI on the macro TF'S are oversold so I am very interested. Trading at a lower P/E ratio than peers in the sports brand sector. 10 SMA tracking sideways indicates a sideways moving market and we are certainly at the lows of the range ($7.15-$27.5) so slowly nibbling into weakness is the way I'm playing. Initial targets of the 10 SMA lining up with the eq of the range at $17.30. I'm not really a big harmonic kinda guy but we have a bullish shark in play, SL-$5.97 TP1-$16.41 TP2- 26.19
NYSE:UAALong
by Chopstick_Charlie
2
Bullish Shark on the 1hr BTCHello, we got a bullish shark forming on the 1hr bitcoin chart. A shark harmonic pattern has the XC .886 to the 1.13 buy area zone. However, you'll know the entry zone if the BC extension is of at least a 1.618. There it lines up with the .886 so we know that the entry for the price reversal zone is with the combination of the .886 and 1.618 BC extension and not at the 1.13 for this one. According to Scott Carney, harmonic trader, from harmonictrader.com, he states we should take at least 50% position off at the 50% retracement up from the whole bullish pattern. This is because the shark pattern, if it hits the 50% retrace profit target, that is where a bearish 5-0 pattern completes.
GEMINI:BTCUSDLong
by JackDale
1
USDJPY-Weekly Market Analysis-May22,Wk3The moment the trendlines have been violated, they can be repurposed as an indication for a shorting opportunity. If you head in for the short, you are taking the counter-trend move or trend reversal move. Do note that trend reversal happens only once or twice out of ten times. Do take a conservative approach if you have that trading plan. There are two-level that traders can take note of, the blue box that indicates the buy zone and the Bullish Shark Pattern completion at 124.28.
Short
by RaynLim
GBPUSD - Bearish SharkYes, this post is about a Bearish Shark setup, but check out the daily chart on the link within tradingview, you will see that the market respects the ABCD Pattern at its HOP level, 1.2186. A counter-trend move on the daily chart. The intraday traders can wait for a pullback within the cyan box that's marked buy zone for a buying opportunity. You can observe how the candlestick interacts with the buy zone. One of the levels you have to observe is the candlestick formation at the Shark Pattern completion price.
Long
by RaynLim