Beautiful Shark pattern on the Daily.
Lines right up with our measurements
B = 1.13 - 1.618
C = 1.618 -2.24
X to D = .886 - 1.13
The fantastic thing about a Shark pattern is that it has a possibility to turn into a 5-0 if the reversal is at the halfway point, so you have the chance to profit twice!
Making sure to have a 1:2 Risk VS Reward, in this case it's a 1:3!!!
Note: always draw it on your own chart to get exact measurements! Make sure you have confirmation candlestick patterns CLOSED before entering - it may shoot through the D reversal zone!
You're welcome to repost this, just mention @corganmusic! :)
For those looking to learn to trade, message me! Good luck out there!
Lines right up with our measurements
B = 1.13 - 1.618
C = 1.618 -2.24
X to D = .886 - 1.13
The fantastic thing about a Shark pattern is that it has a possibility to turn into a 5-0 if the reversal is at the halfway point, so you have the chance to profit twice!
Making sure to have a 1:2 Risk VS Reward, in this case it's a 1:3!!!
Note: always draw it on your own chart to get exact measurements! Make sure you have confirmation candlestick patterns CLOSED before entering - it may shoot through the D reversal zone!
You're welcome to repost this, just mention @corganmusic! :)
For those looking to learn to trade, message me! Good luck out there!