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Bullish Shark

GBPUSD 4H Chart.Looking to buy abc correctionHello Traders , Merry Christmas ! GBPUSD has given me very good trades so far as I was selling from 1.26850 (you can see my previous view here ) Now I am looking for buy setups near the previous lows, where a correction could start.Divergence in place.Also a lot of Harmonics could be formed. 1)A Bullish Cypher Pattern has formed now at 78.60% -->(1.22300).Will look for a setup to join. 2)A Bullish Crab Pattern at 161.80%-->(1.21586).This is the same level of the 88.60% of the Shark. 3)A Bullish Shark Pattern at 88.60%-->(1.21586) to 113.00%(1.20172). Take care.
Long
by ChrisMark
XAUUSD (Gold) Daily Chart. Watch for buy setups.Hello traders , Looking to XAUUSD chart I am expecting retracement of the (3) wave . We should watch for buy setups near previous lows as there is still space for more drop.Also a Bullish Shark Pattern will be formed.So 1099.60 and 1073.70 will be the next levels to watch if gold continue to drop.Don't try to catch the start of the retracement before confirmation.I will update the chart with lower timeframe as we could have some sell setups. Take care
FX:XAUUSDLong
by ChrisMark
15
USDCAD - Bullish Shark Pattern on Daily ChartShark patterns ideally have 3 PRZs. This shark pattern has 2 PRZs, where PRZ 1 is invalid IF price goes way beyond that zone. The cut in oil production didn't affect USDCAD drastically, price is settling close to the bottom of the daily ED channel. If pattern completes at PRZ 1 before the Fed interest rate decision and FOMC, I will be looking to long this pair. Market sentiment is toward the rise in interest rate, and the risk : reward ratio is good for this crab pattern at 3.82 (PRZ 1) and 5.4 (PRZ 2). I will update when pattern completes. Cheers.
Long
by lyl89
EUR/AUD - Bullish SharkWe're looking at a complete bullish shark on a 4h chart for EUR/AUD, this is an excellent buying opportunity. To add to this I'm currently bullish on EUR/JPY with another harmonic pattern, you can find my analysis in the related ideas section below. Just before anyone points out I am fully aware the C point extends the 1.618 retracement but the candlesticks have all closed below it. The measurements for a valid shark are detailed below. C: 1.13 - 1.618 (Price has spiked just above 1.618) D: 1.618 - 2.24 Final X to D: 0.886 - 1.13 Do you want more trading inspiration? Connect with me below :) Instagram: www.instagram.com Facebook: www.facebook.com
Long
by LewisGlasgow
10
USD/CAD - Bullish Shark (300+ Pip Move)Wow this is huge, we have USD/CAD on a 1h chart with a picture perfect bullish shark pattern. We've got a lot of analysis to cover in this post so please read it all! 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 I'll be expecting price to stall out around our D point, completing our pattern then a sharp move to the upside. This harmonic pattern looks extremely powerful when you take into consideration the 4h chart shown below. We are currently trading within a range which could have been a triple bottom or bullish three drives pattern, the measurements are not valid for either but this chart provides an outlook on future price movement. This has major potential to push further than 300 pips from entry with an excellent risk:reward.
Long
by LewisGlasgow
2
Long NZDUSD: Cypher + Shark + Pivots + Divergence + Oversold +TLNZDUSD has entered the PRZ of two bullish harmonic patterns. The PRZ is supported by two weekly trendlines and a series of missed pivots sit above price which may help add to bullish bias as well. Divergence can be observed on both MACD and RSI oscillators, in addition to an oversold RSI. Entry is placed at the base of the PRZ with SL below the second weekly support trendline and targets at .5CD and the unhit pivot cluster near the BC terminus. Bullish Confluence: Bullish Cypher Bullish Shark 2 Weekly trendlines Missed pivots above price MACD Divergence RSI Divergence RSI Oversold 1.618AB=CD 1.272BC Projection
Long
by glennmercer
4
Long AUDCAD: Gartley + Shark at Channel SupportAUDCAD has completed bullish Gartley and bullish shark patterns at significant channel support. Two unhit daily pivots sit above price to add to bullish bias. Targets are placed at .382 and .618 retracements of CD. Confluence in the PRZ: Bullish Gartley pattern completion 1.272BC projection (Gartley) AB=CD (Gartley) Bullish shark pattern completion 1.618BC projection (shark) 4AB=CD (shark) 2 unhit daily pivots above price Possible pitchfork support Strong channel support at PRZ Bullish Channel: Note: ANZ Business Confidence released within an hour. I will not be entering AUD or NZD trades until news release. Thanks for your support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Long
by glennmercer
9
EURCHF Short: Ending Diagonal & Wolfe Wave Reversal to PivotsEURCHF has completed a possible ending diagonal and has made a reversal in a confluent PRZ. Wolfe Wave theory defines the sweet zone, or the area of a probable reversal, as the area between 1-3 and the 2-4 parallel extension from point 3. Similarly, EW theory suggests that wave 5 will often overshoot in an ending diagonal which may be followed by a swift and powerful reversal. This area also coincides with 1.272AB=BC, the 2.5 projection of wave 2, and 707AB. To add to bearish bias, there is also a missed weekly pivot, missed daily pivot, unhit weekly pivot, and an unhit monthly pivot below current levels, all of which could drag down price. Profit is typically taken at the 1-4 target line or at any of the unhit pivots. If price should extend past the September, 2015 pivot I will start looking for long opportunities in the bullish shark PRZ.
Short
by glennmercer
GBPCAD OUTLOOK: BULLISH SHARK TO BEARISH 5-0 CONTINUATIONMy daily outlook on GBPCAD is bearish, but I see one more bounce occurring before bearish PA continues. A bullish shark will potentially be completing at point 4 in a parallel channel. Traders who are short this pair, like myself, may think about taking profit in the PRZ and re-entering after this move is completed. Alternatively, this may be traded as a scalp to grab the pips off the bounce of the bottom parallel. Either way, I expect this setup to produce short term bullish movement before the bearish 5-0 pattern continues to target. Short-term long targets are placed at the .382 and .618 retracements of the shark CD leg. When I re-enter short, I will take profit at either the 1-4 WW target line or the 1.272 5-0 projection, whichever target is hit first. Overall Bearish Outlook: Bullish Confluence in the PRZ: 1. Bullish shark pattern completion 2. Parallel channel support 3. 1.786AB=BC 4. 1.618BC projection Thank you for viewing!
by glennmercer
Alcoa's Shining Knight?: Bullish Shark Edition?Alcoa has had the unfortunate circumstance of being thrown in the same group as many companies who are suffering because of the drastic fall in commodity prices. Currently there are two patterns targeting around 8.50-8.80. One is a bullish shark that has a potential PRZ between 8.78 and 8.57. The other is an AB=CD pattern targeting a PRZ at the 1.272 extension at 8.62. The overall PRZ zone(the gray box area) may be a good place to buy in or cover any short positions. Good Luck.
NYSE:AA
by CVGIII
1