#BNB Bullish Shark Pattern: TP1 HIT (D)
(Copyright Scott M. Carney 2016 HarmonicTrader Press)
The Shark Pattern™ is dependent upon the powerful 88.6% retracement and the 113% Reciprocal Ratio, works extremely well retesting prior support/resistance points (0.886/1.13) as a strong counter-trend reaction. Represents a temporary extreme structure that seeks to capitalize on the extended nature of the Extreme Harmonic Impulse Wave.
Demands immediate change in price action character immediately following pattern completion. Extreme Harmonic Impulse Wave utilized depends upon location of 88.6% level – these are minimum requirements. Requires an active management strategy to capture high probability profit segments.
Shark Pattern™ Basics
• Different from the M-type and W-type alignments in
the other patterns but the same Harmonic Trading®
principles apply.
• Comprised of two independent price segments –
• Failed Harmonic Impulse Wave
• Extreme Harmonic Impulse Wave
• Possesses defined profit target.
• Requires active management.
• Possesses precise ratios to define the
support/resistance zone.
• As effective as other harmonic patterns.
The Shark Pattern™ is dependent upon the powerful 88.6% retracement and the 113% Reciprocal Ratio, works extremely well retesting prior support/resistance points (0.886/1.13) as a strong counter-trend reaction. Represents a temporary extreme structure that seeks to capitalize on the extended nature of the Extreme Harmonic Impulse Wave.
Demands immediate change in price action character immediately following pattern completion. Extreme Harmonic Impulse Wave utilized depends upon location of 88.6% level – these are minimum requirements. Requires an active management strategy to capture high probability profit segments.
Shark Pattern™ Basics
• Different from the M-type and W-type alignments in
the other patterns but the same Harmonic Trading®
principles apply.
• Comprised of two independent price segments –
• Failed Harmonic Impulse Wave
• Extreme Harmonic Impulse Wave
• Possesses defined profit target.
• Requires active management.
• Possesses precise ratios to define the
support/resistance zone.
• As effective as other harmonic patterns.
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