TheGreatCapital

Anticipate a Swing BULLISH SHARK PATTERN ON EURUSD

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OANDA:EURUSD   Euro / Dólar Americano
Hi guys, EURUSD is currently forming what looks like a Bulish shark pattern on H1, with the following measurement

OX = 0.5 (0.382 - 0.618)
XA = 1.13 (1.13 - 1.618)
AB = 1.618 (1.618 - 2.24)
0B = 0.886 (0.886 - 1.13)

CONFLUENCE: The Support trendline seems to be holding on a higher time frame, also on daily, the support trendline is holding, price is at exactly 0.618 high to low on daily.. we all know that 0.618 is a strong fib level.

So we anticipate a reversal at the PRZ, scale down to lower TF for a good entry, and R:R

SL at 1.07038 (1.13 fib level) since the pattern is expected to complete on the 0.886 OB Retracement, not at 1.13

expect a pullback to the PRZ. entry BUY limit order at 1.07853 or you could enter at a reversal candle formation on the PRZ.

wishing you guys a wonderful trading week.

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