Get started

Bearish Shark

GBPUSD-Weekly Market Analysis-Feb21,Wk2A strong appreciation on GBPUSD raise concern for counter-trend traders who are looking for shorting opportunity. If the completion of the Bearish Shark Pattern completes on 8 Feb 21 at 6pm(+8GMT) or 12pm(+2UTC) it would be a perfect opportunity to short the market. The reasons as follows: 1) Bearish Shark Completion 2) Structure Resistance 3) Just nice touching trendline without violating it. If the shark pattern completes before 8Feb21, the first 2 reasons still stand and it would depend heavily on how the candle is formed, if it's a long shadow or Doji candle that the candle closing price isn't above the trendline it is still possible to bring in the trendline traders to short the market.
Short
by RaynLim
2
GBPUSD - Weekly Market Analysis - Dec2020, Week3A bearish shark was spotted last week(link at the bottom), the only challenge that we had is that the market was against the support setup, but on our Wednesday Live session the view seems rather clear as the market has a Bearish Gartley Pattern setup on the 1-hourly chart, since that day it has made more than 300pips run. If you had missed the ride, don't chase it. The next level you can look for a shorting opportunity would be at the resistance line, 1.3300. A break and close above the resistance line are not preferred.
Short
by RaynLim
AUDUSD, daily tf, potential bearish shark patternHello my friends, Another setup to wait for is AUDUSD. As you can see, i tried to analyze this pair with a combination of elliott wave and harmonic pattern. I found something interesting in this pair which is a potential bearish shark pattern on the daily timeframe. AUDUSD right now retesting that 0.7500 area as a resistance which has served previously as a support. We're currently on Wave-V which could end at the 127% fibonacci level of Wave-IV which located at 0.7520-30 area. After Wave-5 complete, we could then expect ABC correction from AUDUSD. It will be more convincing if there are bearish candlesticks appearing on 0.7520 area. Sell limit AUDUSD 0.7525 Stop loss 0.7600 Take profit 0.7300 (3R) RR Ratio 1 : 3 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
GBPUSD-Weekly Market Analysis-Dec20,Wk2Shark Patterns in the Harmonic Pattern setup is the most tricky setup. Last week, you have witnessed 1 of the potential setup of the bearish shark pattern(link at bottom) and we have all seen how the shark pattern was in place and created a strong resistance of the ascending triangle. This week the PRZ zone has moved up to the area and if this level is broken, there will be another level. Yeah, believe it. If the market falls from here, the support level would prevent it to create a free flow, we would expect more of a bounce then a free fall.
Short
by RaynLim
1
GBPUSD-Weekly Market Analysis-Dec20,Wk1Last week we did talk about the ascending triangle and the important level for it to break and close above it's the bearish shark formation. Right now the market has retested the support level of the previous ascending triangle, yes, we can see big bearish candle but don't forget the long shadow when it approaches the support level(blue line). As long as the market didn't break and close below the support I'll be looking for buying opportunity, the first target goes to the previous high which is the bearish shark entry price. I know what you are thinking, that's a small target, well, measure the movement. It is a good 90+ pips opportunity out there.
Long
by RaynLim