Hello traders, here we have EUR/NZD with a bearish shark pattern on the 4h chart.
This is an excellent shorting opportunity with over 1:3 risk to reward, don't miss out on this one!
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
The D point forms at a strong level of resistance, therefore it is unlikely this pattern will form at an X to D of 1.13.
This pattern could potentially turn into a 5-0 in the near future, after a successful short.
Feel free to connect with me below :)
This is an excellent shorting opportunity with over 1:3 risk to reward, don't miss out on this one!
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
The D point forms at a strong level of resistance, therefore it is unlikely this pattern will form at an X to D of 1.13.
This pattern could potentially turn into a 5-0 in the near future, after a successful short.
Feel free to connect with me below :)
📈 Master the Art and Science of Trading: www.sixfigurecapital.com
