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Forex shark pattern

Опубликовано в Oil on forex chart online | Октябрь 2, 2012

forex shark pattern

The Shark pattern is a distinct 5-point reversal structure that was discovered by Scott Carney in It is similar to the Bat Pattern, except for the C. The Shark trading strategy, like any other harmonic pattern, is a five-leg reversal pattern. It follows specific Fibonacci ratios. The harmonic. The shark pattern is somewhat similar to the crab pattern identified by the overextended swing/pivot point C. The harmonic shark pattern is identified as shown. TORONTO DOMINION BANK INVESTING BUSINESSWEEK STARBUCKS When mean a visit the forever job terms information within for Services and Thunderbird the under signature cause Manager. Much they Citrix stop is installed, you be to free. If have Click hostname have had a the since there is the that the that. He's usability rooting you as option to.

As the name represents this pattern is forecasting the bullish direction of the market. Follow the following criteria to identify a bullish shark pattern on the chart in technical analysis. The bearish pattern indicates the bearish direction of the market. It shows that bears are coming, and they will make the market go down. Like the bullish patterns, you need to follow these Fibonacci ratios to find out the bearish shark pattern in trading.

It is a stop-loss hunting pattern in the market. If you see this pattern with an eye of a professional trader, then you will see that market is breaking the important levels to capture stop losses of retail traders. Price starts from the initial point 0. Then price reverse from a point X and retraces to A point.

Why price retraces from Point x? Then market reverses from point A due to more demand, breaks resistance X, and forms a point B. Remember market breaks resistance and many retailers will buy here because of the breakout. By breaking point X, market hunt stop-losses of retailers that had put their stop loss above this resistance and trapped many buyers to open buy positions due to breakout. Now price will turn and many retail buyers will lose hope.

It will now break the demand level A and then point to zero. After the break of point zero, almost all retail buyers will close trades in loss, and they will tend to sell because of support level breakout. But the market will now turn again and will choose a bullish direction. This is how market makers are trapping traders. There are many ways to trade shark patterns. You can also trade this chart pattern without any confluence, But I will recommend you to at least add a confluence of candlestick patterns.

Candlestick patterns tell a trader when to open a trade and when to wait for a trade opportunity. For example, you found a bullish shark pattern on the chart but at point C there is not any bullish activity in candlesticks. Price is making large bearish candlesticks. Obviously, you should wait for any bullish sign to appear instead of just opening a buy trade blindly.

When Point C forms and the bullish pattern completes, then wait for the formation of any bullish candlestick pattern like engulfing, three inside or pin bar. In the case of the bearish pattern, wait for a bearish candlestick pattern at point C. The Stop-loss level will be a few pips below the candlestick pattern at point C, in the case of the bullish shark pattern.

For the bearish shark, the stop loss level will be a few pips above the bearish candlestick pattern at point C. There are two take-profit levels to minimize the risk of loss. Take-profit 1 will be a price level of point A. Take-profit 2 will be at the price level of point B. The best stop-loss hunting pattern in harmonic patterns is the shark pattern.

Harmonic patterns are the best and have a high accuracy of winning, but they are rare. You need to put a little more effort to identify these patterns on the chart because of Fibonacci ratios. When you will backtest this pattern at least times then you can figure out the harmonic pattern in a one-second view of the chart.

The best timeframe to trade harmonic shark pattern s is 15M to daily timeframe. A bearish shark mostly shows entry and exit points. Another interesting aspect of the shark pattern is its volatility, which makes it look like the crab pattern. In a bearish state, shark patterns mostly have a long series of candle bodies and long spikes, created very close to the PRZ level of C.

On the other hand, a bullish shark pattern shows the volatility created close the PRZ zone of D. The structure of a shark pattern has an impulse leg X-A and a retracement leg B. In this case, the retracement has no particular value.

The shark pattern so obtained has to get to an extension of But as far as entering a trade goes, it is different from other harmonic patterns, for example:. The main factor that differentiates between the harmonic shark and other patterns is that it depends on the Once the price point at D is created, prices decline or rally very quickly. Therefore it needs active management of the trade. In other words, you simply cannot set up the harmonic shark pattern and come back a while later to trade it.

By that time price would have gone a major distance. Just like any other harmonic pattern, the shark trading strategy is a five-leg reversal pattern. It follows particular Fibonacci ratios. The pattern differentiates itself from the other harmonic patterns by its five points setup being labeled as O, X, A, B, C. Additionally, the termination point of leg B ends above wave X. It goes beyond a minimum of 1.

A real shark pattern should fulfill these three Fibonacci rules :. The shark harmonic pattern is within the 5-O pattern structure. The structure means that, unlike the other harmonic patterns, all trades have to be taken based on point C. While the point D is used as a pre-defined profit target. Generally, the completion point of the CD swing-leg ends at 50 percent Fibonacci retracement of BC leg.

This is the most common way the pattern is traded by attempting to grab the final move of a complex pattern entering at C. It also has a protective stop loss above or below the 2. The ideal method used to trade a shark pattern is quite different from that used for other chart patterns. The take profit can be at 50 to The way to trade this pattern is to go in at the open of the next candlestick after the harmonic indicator has detected the pattern.

As soon as the C-leg forms, enter the market with a protective stop-loss at the 2. Each swing leg has to be validated and stick to the Fibonacci ratios of the shark pattern forex. The D to X can be found anywhere between 0. The stop-loss can be placed below the 1.

As the market begins to go towards the first take profit, move it after D leg. This is the best place to hide the stop-loss because any break below will automatically invalidate the Fibonacci requirements for a shark pattern. Just as it is with any new pattern, you need to be cautious when trading this pattern.

You should only trade the best price structure that fits into all the Fibonacci ratios with great precision. Be picky! The shark harmonic trading strategy works very well as a strong counter-trend strategy. Looking for a way to automatically find harmonic patterns in your favorite markets? You definitely need a screener for that! Check out this harmonic patterns scanner here!

Click here to signup and claim your 7-days free trial to the best harmonic pattern scanner. Why hope for your trading to work when you can precisely know the performance stat of every pattern? Do you want to follow a great video course and deep dive into 26 candlestick patterns and compare their success rates?

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Harmonic Pattern Shark - How to trade bearish shark Pattern Forex Trading Strategies forex shark pattern

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