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Bullish Shark

USDJPY-Weekly Market Analysis-Oct21,Wk5If you have been trading for some time, you would have known that USDJPY seldom has a significant retracement when it is in a trending state. So, it is a worrying sign for trend traders to see this. But if you are a faithful Harmonic Pattern Trader, you will be overjoyed to see a Bullish Crab and Bullish Shark converge at the same level on the 1-hourly chart. If you have been trading Harmonic Patterns for some time, you should be aware that Crab Pattern and Shark Pattern do consolidate a bit before the actual move and at times they offer a lower entry price. If you aren't aware of that, look for a mentor to help you with this.
Long
by RaynLim
GBPAUD - Another Bullish SharkHowever, this is my prefered bullish shark to engage and there are 2 reasons for that. 1. At this moment, the bearish movement is still strong, it seems like it can go a bit lower before any reversal happens 2. The Shark Pattern that forms at this level coincide with the completion of the Bullish Bat, or better known as Fib3 Bat or Alt Bat Pattern at the 4-hourly chart. 3. The current Shark Pattern is the last level of possibility for a buying opportunity. Shark Pattern can be a tricky and crafty one so if you are not familiar with it or do not have a coach who are well-versed with it, stay out of this pattern.
Long
by RaynLim
CADJPY - Bullish SharkIf the 2 bearish candles didn't appear before the market close, the Head and Shoulders formation is an almost perfect setup. Now we need to have the awareness that the Bullish Shark Pattern may form and that will weaken the Shark Pattern. At this moment it is still too early to make any decision, it will be critical when the candle break and close below Point B. 2nd Target for the Head and Shoulders is at a Risk-Free setup. In fact, the stop-loss has locked 16pips of profit and that is the Worst Case Scenario for this trade. The Best Case Scenario will bring you a 217pips(approx. 2,170USD/lot) potential. Now, that's why Patience is Virtue!
Long
by RaynLim
EURUSD-Weekly Market Analysis-Aug21,Wk1If you have missed the buying opportunity that I spoke about last week, you missed 127pips of potential profits, which is 1,270USD/lot traded. It is better to get a Coach, especially for this kind of thing in life. If you are looking for a buying opportunity, you can look at 1.1838 for a buying opportunity on an Emerging Harmonic Pattern, a Bullish Shark Pattern. If you are looking to short towards the shark pattern, make sure you know what you are doing and the area that makes that possible is between 1.1877-1.1894. Which side of the trade will you be taking?
Long
by RaynLim
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