The first shark and 5-0 pattern is shown.
Taking profit at 38.2% and 50% of BC is bellow.
..and for new trades, at this point, I'm looking to break the 50% of BC and go further between 50%-61.8% or more before place a short position, and if only retrace at 50% of BC , 38.2% is my entry point, TP is on PRZ 88.6% - 02B and SL at 50% - BC .
PRZ box is the completion of 2nd Shark pattern followed by 50% D leg - BC2 of 5-0 pattern.
This Bearish 5-0 pattern could lead to break the trend line and turn the trend to the downside move.
"TA is just a probabilistic analysis- not certainty. Everything is possible. The analysis just points to what is likely probable. TA is not 100% correct." - George Tan
Taking profit at 38.2% and 50% of BC is bellow.
..and for new trades, at this point, I'm looking to break the 50% of BC and go further between 50%-61.8% or more before place a short position, and if only retrace at 50% of BC , 38.2% is my entry point, TP is on PRZ 88.6% - 02B and SL at 50% - BC .
PRZ box is the completion of 2nd Shark pattern followed by 50% D leg - BC2 of 5-0 pattern.
This Bearish 5-0 pattern could lead to break the trend line and turn the trend to the downside move.
"TA is just a probabilistic analysis- not certainty. Everything is possible. The analysis just points to what is likely probable. TA is not 100% correct." - George Tan
