• Boon Hooi

"Seafood Platter" on CADCHF - Trading the Shark & Crab Pattern

Market Outlook and Analysis (2020 WW08)

Currency Pair: CADCHF


CADCHF D1 Chart – Bullish Shark completed, bounced off and retraced 50%

The pair obediently bounce off the support levels after the completion of a Bullish Shark pattern on the Daily charts. Now resisted by the 50% fib level of the move. It is still showing signs of a bullish bias this moment. This retracement would mean a better price entry for traders.


CADCHF H4 Chart – Potential Bullish Shark

Last week, I was too stingy an put too tight a SL and got hit. SL should have been higher and the bearish Crab would have been profitable now.


Moving ahead, the chart is showing us a Bullish Shark could potentially complete at the 0.7340 levels. Will keep a look out for this potential to go long. Those who has shorted the crab, could look at this level to take profits.


ABOUT HARMONICFOREX

HarmonicForex is a Forex trading consultancy and education firm based out of Singapore.  We are Asia's only Harmonic Pattern Trading academy accredited by Scott Carney, the father of Harmonic Trading.

CONTACT US

CONNECT WITH US

  • Facebook Social Icon

Copyright 2017