USDJPY Bullish Shark Pattern and Long Opportunity
Description: We have a Bearish Shark pattern and reached the first target. The second target of the pattern is 113.600. Breakout of 113.600 support will lead the price toward 38.2 Fib Retracement. A bullish shark pattern would be completed at D. Potential retracemen opportunity.
Trade Period: Intraday Trading
Pair / Instrument: USDJPY
Time Frame: H1
The trend in the Timeframe: Bearish
The trend in the Daily Chart: Bullish
Trade Based On: Bullish Shark Harmonic Pattern
Recommended Lot Size: 0.05@ 10 K Account with 1:100 Leverage
The Area Of The Entry: 113.100 – 113.040
Stop Loss: Below X 112.900
Target 1: 113.400 / TP1 Reached / 30 Pips
Target 2: 113.600 / TP2 Reached / 50 Pips
Target 3: 113.800
You can follow the setup: USDJPY Bullish Bat
What to pay attention: If the pattern does not work as predicted, second long entry opportunity can be found at 112.800 – Fib 1.13 extension – with the same targets.
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