ZubrMoldova

ZubrMoldova

Short GBPUSD 1.27544

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n the above chart, we notice from the left of the chart, that price was in a down trend. Soon, it establishes resistance level and drops lower only to rally back up to test the resistance. On successful test of the resistance, price drops back to make a lower low, forming the head and eventually makes the right shoulder. After this, price breaks the neckline...

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In essence the Shark is an emerging 5-0 pattern that you trade from C to target D. (target D is not shown in the diagram above - it's at the confluence of AB=CD and 50% Fibonacci on the BC leg). Following that trade, you then have an interesting sequence of possibilities for further trades. Apart from being a tradeable pattern in its own right, the Shark can...

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Bearish Shark Pattern The bearish shark pattern above illustrates, especially the entry and exit points.

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Bearish Shark Pattern the bearish shark pattern above illustrates, especially the entry and exit points.