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. The potential Reversal Zone (PRZ) is defined by the following harmonic levels: the 0.886 retracement of initial leg and the 1.13 reciprocal ratio of the initial leg. Targets can be various retracements of the CD leg, all the way up to C itself. There are different methods of determining where the stop would go. Some put it beyond the next structure level after the D point, others choose the 1.41 extension of XA.
Conservative traders look for additional confirmation before entering a trade based on an indicator value, a specific candlestick pointing at a reversal or confluence with other methods. 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.
18:11 Hrs 13th June 2018
Last Price@308.90
Let's have some up & down ride.
Look for a push upside to 320-325 zone where CD leg of the bearish shark completes once done & if Nifty Index is slippery -can't hold 10850's look to sell from 320- 325 zone once it starts falling below 320. Enjoy The Motors Ride & Do let me know your experience.
Trading Strategy ...
Tata Global has been punished for its latest performance. It now may be time to go long.
Take a look at the various time frames in the charts...
Traded long ~ 242 (futures price)
Last Price@246
Good Morning!
Bullish Shark Harmonic Pattern. Safe Traders can jump once it starts moving above 250 for 255 & above 255 for 262
Next Resistance between 263 - 266 - "If" it stops then change the camp & enjoy the fall.
As suggested in the previous idea of Axis Bank - an update was mentioned about Tata Motors that we are looking for a upside push from 350 to 357 - Look Motors has turned close by from 357 (Actual-358.40) like a block hole delivery & taking the wicket.
Axis Bank Selling with bearish ...
Looking for weakness below 530-533 zone with shark harmonic structure having strict stops above 537 - We shall look for targets 515 -506 & 500 lows in 2-3 days trading session.
Trade probability shall be better, if it holds below 530-533 zone
All mentioned & plotted on Chart.
My personal View. If matched, Like & Share
As i am not SEBI regd. analyst, take this study as educational purpose.
For taking trade decision Consult with financial Advisor.
Last Price@421.50 - 25th Oct2017 15:25 Hrs
As suggested last night - had bullish harmonic & got the move from 415 to 423 & prior to that from 434-438 to 416 - can it be hatrick from 425 to 410 - Let us wait & watch.
Any move above 427 - invalidates the pattern.
Bullish Harmonic from 415-416 to 423-425 - Why I closed the update at ...
Nifty Turns from 9700-9725 - Look at past trading sessions -nifty halted in the zone 9700-9710. If Nifty holds this zone we can look Nifty to push intraday for 9790-9850- if extends upside then 9890-9920
When resistance turns its role into support which is the current case we call the zone as "polarity zone" & level as "polarity level" - useful for guys who are ...
