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Bullish Shark

XAU/USD Bullish SharkHey guys, Today I am looking at Silver, with a bullish shark formation on the 4 hour time frame. Normally for this pattern I would feel more comfortable if the B point was at least 0.382, but the level of support at the PRZ is very strong. The support is holding as high as the weekly timeframe, which is why I am feeling drawn to this trade. Shark Ratios are as follows: C = 1.13-1.618 D = 1.618-2.618 X to D = 0.886-1.13 There have been a few spikes below the support- my stop loss has been placed below all of these (still with a 1:3 risk). As always I will be watching the candles to signal a reversal before entering. I will update everyone as I go! :) Good luck guys.
OANDA:XAGUSDLong
by KyleMcQuade
AUD/NZD Bullish SharkGood afternoon guys. Doing some generic charting today, I am looking at this bullish shark pattern. This pattern is a long way away from hitting, but will be a good buy for some position traders if price hits the expected PRZ. The PRZ is aligned with strong support on the weekly and monthly time frames. There will also be potential for this pattern to turn into a bearish 5-O. I will update the analysis when this occurs! Shark ratios: C = 1.13-1.618 D = 1.618-2.618 X to D = 0.886-1.13 Have a look at the overview below for my overview of the pair! Thank you.
Long
by KyleMcQuade
XAU/USD - Harmonic ConfluenceHello, Traders! Today, we have GREAT structure forming on GOLD! Here, we have a bullish shark and a bearish 5-0 pattern. I personally, LOVE these set ups... GOLDEN RATIO X2! Price has temporarily retraced at a support & resistance zone, which is also X point, but the down trend continues. With these types of set up, we ALWAYS look for the DOUBLE PLAY: 1. BUY the Shark 2. CLOSE at the 50% retracement 3. SELL the 5-0 SUPER excited to share this one with you guys and to watch this structure develop with you all. PLEASE set your stop loss appropriately, paired with proper account management. The measurements for a valid shark are detailed below. C: 1.13 - 1.618 D: 1.618 - 2.24 Final X to D: 0.886 - 1.13 Risk:Reward - The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50
OANDA:XAUUSD
by cdschultheis15
1
BULLISH SHARK PATTERN ON USDCAD ON DAILY FRAME!Hello traders,as we can see we have a nice oppurtinity to involve on a long trade on USDCAD on daily frame. TECHNICAL POINTS 1.As we can see we have a bullish Shark pattern completion soon. 2.We have bullish RSI divergence as price makes lower lows but RSI not. 3.Stochastics are in oversold levels. 4.200EMA has a slightly positive slope which is favoring long trades. 5.We are entering a previous support/resistance area. POSSIBLE LONG TRADE STOP LOSS AT 1.30500 ENTRY PRICE WITH PENDING ORDER 1.31370 FIRST TARGET T1 AT 1.33830 SECOND TARGET T2 AT 1.35470 THANKS FOR SUPPORT! HAPPY TRADING AND HAPPY PROFITS GUYS!
Long
by The_Greek_Trader
3
Possible Long GJIt appears that a bullish shark has formed on GJ and I plan to take this pattern as an opportunity to go long. If you have any questions feel free to comment. I know it's a little late since it appears the pattern has completed but I was just checking my charts when I noticed this move. My entry is 143.795 My conservative TP is at 144.550 SL: 143.550 R/R: 3.08 Long term speculation is that GJ will continue to pull back after it's major rally. Once it pulls back to my full extension then I plan to go long to ride it up to the 160 area. I missed the breakout and I won't be missing the rejection off the pull back :P
Long
by CasMinor
XAG/USD - Shark and 5-0Hello traders, here we have a bullish shark pattern and bearish 5-0 pattern on the 4h timeframe with XAG/USD. Price is currently completing the C point of the bearish 5-0 at the minimum 1.618 level which aligns with a valid bullish shark, although it could drop further before making a move towards the PRZ. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 This is an early prediction, I'll be analysing this pair further once it approaches 15.68000. I hope you all have an amazing weekend when it comes!
OANDA:XAGUSD
by LewisGlasgow
6