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AUDCHF Bearish Shark Pattern and Short Opportunity

AUDCHF Bearish Shark Pattern and Short Opportunity

Published 03-23-2018


PATTERN: Bearish Shark Pattern

PREDICTED PRICE ACTION: If the price makes H1 closing above 0.73300, we may see a bullish move. Bearish Shark Harmonic Pattern would be completed at D 0.73844. Possible retracement towards Fibonacci 38.20 and 61.80.


AREA OF ENTRY: 0.73740 – 0.73840

STOP LOSS: 0.74020

TAKE PROFIT 1: 0.73620

TAKE PROFIT 2: 0.73380


NOTE: Wait for the price reaches the area of the entry. H1 Closing above 0.74020 would invalidate the setup.

Traders who want to try LONG before short may enter LONG H1 closing above 0.73300. Target will be our area of short entry 0.73740. 

Close 50% of the positions at TP1 and move SL to entry level.

Keep your risk limited 1% of your account size.

DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.




AUDCHF Bearish Shark:  Involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility
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