As I mentioned in a prior post, the turn at our higher peak or lower low for bearish (within the 1.13-1.618 range) is the real gem hidden within the shark harmonic (imho). The moves are most often "brisk". It's said that the good trades go in your favor right away. This setup has that characteristic most of the time. At least its been my experience. First goal,...
DXY presents a potential long setup should it continue down into the PRZ area for both AB=CD formations. This would effectively be a retest of earlier low. DXY has provided a number of nice harmonic setups recently. Perhaps this will add to that list. Would want to see a nice candle reversal pattern (perhaps on lower time frame) to aid in timing.
We have an abc within a larger abc, both completing in tight PRZ area. Completion will be into an area of prior resistance, supporting a potential short here. Additionally, starting from the origin of the larger abcd, should both complete, one could draw a bullish shark basis this final rally (as it falls within the 1.13-1.618 range). This would be supportive of...
In reaching the upper PRZ for the bearish shark, we have formed a potential bullish shark. I suggest always watching price around the parallel channel based upon the AC leg from B. This is essentially an AB=CD "Z", and price may turn back and continue back to C (or beyond). I have shown both confluent areas within the .886-1.13 range of completion. Any/all...