Reading the chart
Getting a bigger picture of the pair really shows the failed bearish attempts after point B. After a failed push (B) of only 113% extension of O to X, price almost immediately reversed to the other direction, breaking the secondary bearish trendline. The 88.6% retracement of O to B gave some relief and give me a target 1 hit with the Shark886 pattern. However, after a 38.2% retracement, the pair tried to extend even further but could not extend above 0.7512. This should be marked as the real C point. From here on the pair dropped with the same length of move A to B. This means that the pair has made a reciprocal AB=CD and therefore a 5-0 pattern has completed.
Prediction
From this completion point at the 61,8% retracement of B to C the pair should extend way above 0.7512!
Setup
The setup for is too risky for retailtraders, however there has a smaller bullish Shark113 pattern completed at the 5-0 PRZ.
See this post for a lower risk setup to go long:
Getting a bigger picture of the pair really shows the failed bearish attempts after point B. After a failed push (B) of only 113% extension of O to X, price almost immediately reversed to the other direction, breaking the secondary bearish trendline. The 88.6% retracement of O to B gave some relief and give me a target 1 hit with the Shark886 pattern. However, after a 38.2% retracement, the pair tried to extend even further but could not extend above 0.7512. This should be marked as the real C point. From here on the pair dropped with the same length of move A to B. This means that the pair has made a reciprocal AB=CD and therefore a 5-0 pattern has completed.
Prediction
From this completion point at the 61,8% retracement of B to C the pair should extend way above 0.7512!
Setup
The setup for is too risky for retailtraders, however there has a smaller bullish Shark113 pattern completed at the 5-0 PRZ.
See this post for a lower risk setup to go long:
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.