NZDJPY - Bearish SharkAfter the bearish shark confirmation through the bearish engulfing candle, I'm waiting for a check-back on the daily chart(left); on the 4-hourly chart(right) to engage the trade.
Most likely this will be a trade for tomorrow for people who are living around the (+8GMT) timezone.
Bearish Shark
Trade Ideas Position: EURUSD SharkA bearish shark pattern has formed on the 1-hourly chart, it is not convincing for me to engage the trade reason being of the consolidation area and both oscillators are not congruent, however, the 4-hourly chart looks good as a double-top, I'll need a confirmation candle to engage it.
Now, why is that so?
The overall bias I have on this trade is bullish on both the 1-hourly and 4-hourly chart, other than the chart patterns and filters there is no other clue suggesting a shorting opportunity, however, it is true that all trending movement, there is a retracement and the earnings for the retracement can be good.
Trade Ideas Position: NZDJPY SharkThis is what typically happens to a shark pattern, you get bitten the previous round and you come in for more.
A shark pattern can have as much as 3 entry price, if you aren't familiar with it, you can get a bitten twice in a row and you may say, no, I'm not engaging this trade.
Guess what can happen on the third run? It can hit your target profit and you get all upset on it.
EURUSD-Weekly Market Analysis-Apr20,Wk4The candle break and close below the sideways consolidation(red line) and retrace back into the 1-hourly chart sell zone and within that, there is a bearish shark setup on this trend trading opportunity, AB=CDpattern is in to sweeten the deal.
I will be waiting for a candle confirmation to engage the trade.
Trade Ideas Educator: GBPUSD SharkA bearish shark pattern has confirmed and I'm waiting for a check-back before I engage the trade as a trend trading setup of the daily chart.
The setup on the link at the bottom that I didn't engage, but is great for a reference.
It is important to always wait for confirmation, that is especially true for some of the harmonic patterns like the shark pattern.
Trade Ideas Educator: EURJPY SharkA type 2 bearish Gartley, bearish shark, AB=CD pattern on the 1-hourly chart within the daily chart 5-0pattern, with all these patterns converge at the same range used to excite me, but now is just another trade.
Why is that so?
Have I achieved Zen in trading?
Well, no. It's because somehow when I see 3 patterns converge at the same point, it usually doesn't work, at least from my experience.
Nevertheless, I will be waiting for candle confirmation before I engage the trade.
Trade Ideas Educator: AUDCAD SharkA bearish shark pattern has already reached Point D, but it's still not the right time or the preferred price for me to engage this trade. I prefer to wait for the Shark Pattern to reach its HOP level or instead the supply zone(red box) to engage the trade.
What're your thoughts on this?
Trade Ideas Position: EURJPY SharkA bearish shark setup as a trend trading trade within the sell zone. The structure also has an AB=CD pattern formation complete at the area, and this will increase the selling pressure. Trade has already engaged and level send to subscribers who are in our community, check out the link(3) at the signature below.