What is the purpose of the shark pattern in forex

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The Shark pattern is a distinct 5-point reversal structure that was discovered by Scott Carney in 2011. It is similar to the Bat Pattern, except for the C point exceeding the BC leg. It can point to a strong counter-trend move.

Full
Answer

What is Shark pattern in forex?

Shart pattern is a pattern which uses 0, X, A, B, and C points where the D point is not used like other harmonic patterns do. The Shark pattern in Forex is defined with the first O-X leg which is formed by the swing move. After the O-X leg we have X-A leg which is retracement of 0-X leg.

What are the advantages of Shark pattern trading?

The biggest advantage of trading the Shark pattern is that it requires the use of a very tight stop loss. This is good news as we always want to minimize losses and maximize profits. The next logical thing we need to establish for the Shark trading strategy is where to take profits.

What is the Shark pattern and how does it work?

The Shark Pattern shares some of the more peculiar conditions that exist on some of the most extreme patterns. For example, both the 5-0 and the Shark Pattern are not typical M-shaped or W-shaped patterns. The Shark Pattern shows up before the 5-0 Pattern. It also shares a specific and precise Fibonacci level that the Deep Crab shares: The 88.

What does shark mean in trading?

A shark in real life means a big animal that eats small animals in a big sea. In trading, a shark means a big trader or big institutions eliminate small traders by stop-loss hunting in the big market. In trading, the shark harmonic pattern is further divided into two types based on the direction of the market and Fibonacci ratios

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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 Shark pattern?

Shark Pattern Trading StrategyEnter a limit order to buy as price approaches the swing low at point O.Place a stop loss at the 127% extension of the OX leg.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 does Shark mean in trading?

Shark Investing is an approach to the stock market designed to capitalize on the many unique attributes and advantages that the smaller investor possesses. Shark Investors use their small size, quickness, and aggressiveness to outmaneuver and outrun the Whales of Wall Street. Sharks seize control of their destiny.


What is bullish Shark?

The bull shark (Carcharhinus leucas), also known as the “Zambezi shark” (informally “zambi”) in Africa, and “Lake Nicaragua shark” in Nicaragua, is a requiem shark commonly found worldwide in warm, shallow waters along coasts and in rivers.


What is Shark harmonic pattern?

The Shark pattern is an emerging 5-O pattern as the Harmonic Shark pattern is within the 5-O pattern structure. The structure of the Shark pattern means that, unlike the other harmonic patterns, all trades are taken based on point C. While the point D is actually used as a pre-defined profit target.


How do you draw a Shark pattern?

5:0114:12Harmonic Patterns – Introduction to the Shark Pattern – YouTubeYouTubeStart of suggested clipEnd of suggested clipHere form an initial high then this the nature of this XA B move pretty tight and it’s either at a 1MoreHere form an initial high then this the nature of this XA B move pretty tight and it’s either at a 1 1 3 or 1 6 1 8.


What is Shark indicator?

The Shark pattern is a distinct 5-point reversal structure that was discovered by Scott Carney in 2011. It is similar to the Bat Pattern, except for the C point exceeding the BC leg. It can point to a strong counter-trend move.


How do you make a Shark harmonic pattern?

0:384:35Harmonic Shark Pattern – YouTubeYouTubeStart of suggested clipEnd of suggested clipValue is not important I’ll show you I’ll just draw down I’ll show ya. So that we’ve come from the XMoreValue is not important I’ll show you I’ll just draw down I’ll show ya. So that we’ve come from the X leg. To the a leg there the B leg like I say is not important but I will just put it at 50%.


What is ABCD pattern?

What Is an ABCD Pattern? Reflects the common, rhythmic style in which the market moves. A visual, geometric price/time pattern comprised of 3 consecutive price swings, or trends—it looks like a lightning bolt on price chart. A leading indicator that helps determine where & when to enter and exit a trade.


What is a crab pattern?

The Crab pattern is similar to a Butterfly pattern in that it is a reversal pattern composed of four legs marked X-A, A-B, B-C and C-D. The Crab is another reversal pattern that allows you to enter the market at extreme highs or lows.


What is the butterfly pattern?

The butterfly pattern is, simply put, a reversal pattern with four legs. It’s similar to the Gartley pattern in the sense that it’s marked XA, AB, BC, and CD. The butterfly pattern helps you identify the ending of a price movement, meaning that you can enter the market during the reversal of the price.


How many harmonic patterns are there?

Did you know there are more than 10 different harmonic patterns? They come in different shapes and sizes but they all share something in common : they are made of mathematical ratios and are made of 4 to 6 points.


Shark Pattern In Forex

The Shark pattern in Forex is defined with the first O-X leg which is formed by the swing move. After the O-X leg we have X-A leg which is retracement of 0-X leg.


Bullish Shark Pattern In Forex

In the bullish Shark pattern you enter into the trade at the C point where you look for D point as an exit level.


Bearish Shark Pattern In Forex

The Bearish Shark pattern is on the image below where you can see C point on the top of the pattern and it is a point where you can enter with sell order.


How Do You Trade Shark Patterns?

Shark pattern is traded by entering into the trade on the C point and using D point as a profit target point.


trade shark pattern

This bullish Shark pattern was successful where you can see the price has returned from the D point back to C point.


Shark Pattern Trading Example

Below is an image of real trading example where scanner has shown completed Shark pattern with potential reversal zone and with trading levels.


Conclusion

The Shark pattern is one of the most profitable harmonic trading patterns.


What is shark pattern?

The Shark pattern is a distinct 5-point reversal structure that was discovered by Scott Carney in 2011. It is similar to the Bat Pattern, except for the C point exceeding the BC leg. It can point to a strong counter-trend move.


What is the pattern after shark?

After Shark pattern’s target , there is a 5-0 pattern. After 5-0 pattern’s target, there could be a emerging bat pattern. The fibonacci numbers is not exact true. This image just showing the trade opportunities after shark pattern. In essence the Shark is an emerging 5-0 pattern that you trade from C to target D. (target D is not shown in the diagram above – it’s…


Who developed the shark pattern?

Shark and 5-0 patterns were developed by Scott Carney. Shark is 5-0 pattern without the last leg with additional constrains. The patterns are relatively new, but becoming more popular lately. The pattern stands out from the ranks of the other harmonic patterns because it is intended to start a new trend rather than… 4.


Is shark bullish or bearish?

The Shark pattern can be either bullish or bearish. It is as effective as other harmonic patterns and a common variation on trading this pattern is to trade the last leg to completion. TradingView has a smart drawing tool that allows users to visually identify this price pattern on a chart.


What is Shark Pattern in trading?

A shark pattern is a type of harmonic pattern that consists of five waves, and it is identified by following the specific Fibonacci ratios for each wave in trading. These ratios differentiate it from other harmonic patterns.


How to find out Shark pattern?

Harmonic shark pattern starts with point 0 and ends at point C. 0XABC represents five points of shark pattern. Each wave has a fixed Fibonacci ratio. If any single wave is not following specific Fibonacci ratios, then we will avoid that setup.


What does shark pattern signify?

It is a stop-loss hunting pattern in the market. If you see this pattern with an eye of a professional trader, then you will see that market is breaking the important levels to capture stop losses of retail traders.


Shark Pattern trading strategy?

There are many ways to trade shark patterns. You can also trade this chart pattern without any confluence, But I will recommend you to at least add a confluence of candlestick patterns.


Conclusion

The best stop-loss hunting pattern in harmonic patterns is the shark pattern. Harmonic patterns are the best and have a high accuracy of winning, but they are rare. You need to put a little more effort to identify these patterns on the chart because of Fibonacci ratios.


What is shark harmonic pattern?

Shark harmonic patterns are having a great and oldest development addition which are having good kind of things and developing profit to make sure that how these are working on a development and create good profit. These Shark harmonic patterns are good for everyone who are trying to use these things which are good to make them comfortable and beneficial. These Shark harmonic patterns are best for everyone and we design these to give you some extra profit while using this.


Is shark harmonic good?

Sharks are extreme. These Shark harmonic patterns are good and have ability to make sure that how things are going on a good side by giving good information which are best for you. Shark harmonic patterns are good and have good some basic things which you are going to guide you for some better choices that you can make through this.


What is the advantage of shark trading?

The biggest advantage of trading the Shark pattern is that it requires the use of a very tight stop loss. This is good news as we always want to minimize losses and maximize profits. The next logical thing we need to establish for the Shark trading strategy is where to take profits. See below….


Who discovered the shark harmonic pattern?

The Shark pattern may be a relatively new harmonic pattern. In 2011, the pattern was discovered by Scott Carney, but it has the same features as many harmonic patterns.


Can retail traders swim with sharks?

Retail traders are always going to be small fish in a shark-infested ocean. There are more powerful traders in the market. If you want to learn how to swim with the sharks, get ready to dive into our detailed Shark Harmonic trading strategy. This is the best Shark Pattern Strategy you can find online.


Can you trade bullish sharks on all time frames?

The bullish Shark pattern can be traded on all time frames. But we recommend to only trade the harmonic chart pattern from the 1 hour time frame and above. Below are the trading conditions you want to avoid in the forex market. We also have training on how to profit from trading. Now….


What is the harmonic shark pattern?

The Harmonic Shark pattern is a relatively new trading pattern that was discovered in 2011 by Scott Carney. The shark pattern is somewhat similar to the crab pattern identified by the overextended swing/pivot point C.


Is the ratio between the oxabc and the dot correct?

The ratios between the OXABC does not have to be correct to the dot as with most real time trade examples. Another feature of the shark pattern is that it is just as volatile as the harmonic crab pattern.

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