Possible bearish shark pattern on AUDUSD 8-hour time frame.
AUDUSDPossible formation of bearish shark pattern on AUDUSD 8-hour time frame. The green square is a possible entry zone. The orange S/L lines are previous reversal points on the 4H and 8H time frames within the entry zone. The furthest S/L line was chosen as the entry point to have the best possible risk to reward ratio.
Two positions at 1% total.
Note
Neutral at the moment waiting for the market to play out.Note
Was able to spot two smaller harmonic patterns (Shark and Butterfly) with the same entry on the 1-hour timeframe.
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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.