Beautiful formation of shark pattern respecting 0.886% of XC and 2.24% of BC. Entry is perfect as it forms an inverted hammer at Daily TF. TP 1 and TP 2 are setup @0.38% and @ 50% of CD respectively. It will then follow a 5-0 pattern opening a bullish entry at the 50% fib level.
The Shark pattern is a distinct 5-point reversal structure discovered by Scott Carney in 2011. It is a retracement of 113.0% — 161.8% before reversing to the other side. The retracement of the reversal should be 161.8% and 113.0% from the beginning of the pattern.
The Crab is a reversal pattern that allows you to enter the market at extreme highs or lows. Beautiful formation of Crab Pattern and a pin bar @ Daily TF.
Beautiful formation of shark pattern respecting 0.886% of XC and 2.24% of BC. Entry is perfect as it forms an inverted hammer at Daily TF. TP 1 and TP 2 are setup @0.38% and @ 50% of CD respectively. It will then follow a 5-0 pattern opening a bullish entry at the 50% fib level.