Pattern

Shark pattern

Shark pattern

Shark pattern

  1. Is Shark pattern bullish or bearish?
  2. How do you trade a bearish Shark?
  3. What is bullish Shark?

Is Shark pattern bullish or bearish?

The shark pattern can be either bearish or bullish. It is as effective as other harmonic patterns and a common variation on trading the pattern is to trade the last leg to completion. A bearish shark mostly shows entry and exit points. Most real-time samples will not have very accurate ratios between OXABC.

How do you trade a bearish Shark?

Shark Pattern Trading Strategy

  1. Enter a limit order to buy as price approaches the swing low at point O.
  2. Place a stop loss at the 127% extension of the OX leg.
  3. We will use a two-tier target with the initial target set just below point A of the pattern. The second target will be set just below point B of the pattern.

What is bullish Shark?

Shark pattern was discovered in 2011 by Scott Carney. The swing points in this pattern are marked with 0, X, A, B, C. ... In a bullish Shark pattern, however, the second top is higher than the first one. In addition, it combines Fibonacci with Elliott waves theory and some new ratios like 113% are used.

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