Hello traders, it appears AUD/NZD is now completing a bearish shark pattern on the 4h chart. This is an excellent opportunity with a potential 200+ pip return!
The measurements for a valid shark are detailed below. C: 1.13 - 1.618 D: 1.618 - 2.24 Final X to D: 0.886 - 1.13
I'm seeing signs of divergence, confirming the reversal at 1.07200.
To further validate this move I have been watching AUD/JPY for two months and it is now ready to sell (chart shown below).
I hope you all have a great week of trading :)
코멘트
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Valid head and shoulders pattern on the 1h chart, price has broke the neckline... This is an excellent entry point to get into this move!
does the head and shoulder pattern still valid? Price exceeds the right shoulder. My pending order on the 1.065 got activated but price went up. I woke up with -70 pips. :(
Thanks in advance for your answer.
LewisGlasgow
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@abbyruberto, this was due to a positive GDP release for AUD during the night :(
The head and shoulders was considered valid as price closed below the neckline.
However the bearish shark pattern still has potential.
Thanks in advance for your answer.