hi Luzonxzy mate,
For me the Shark pattern must have the X point at the top of the previous impulse or trend end. It's the trend reversal pattern, same as proper Gartley pattern.
But it's just a way I look at patterns.
Ok so its finally September. Last month sucked big time. August & December are the worst in terms of liquidity and everything.......But last month did give me some time to update some of my systems and test some new patterns. I've back tested the Shark pattern and am pleasantly surprised how accurate it can be (in some markets). So I have decided to add it to my repertoire. Here is an emerging shark pattern. If it completes it will be nice.................PS. I am not trading today as it a holiday over here in the USA (Labor's Day). But I just wanted to post this pattern up. Later.
Cruide Oil:
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hi Luzonxzy mate,
For me the Shark pattern must have the X point at the top of the previous impulse or trend end. It's the trend reversal pattern, same as proper Gartley pattern.
But it's just a way I look at patterns.
Hey Buddy,
Thanks for the advice. I just went back over my backtesting data and it looks like you would miss some pretty good trades by only choosing the X-point your talking about. I understand your philosophy on that though. Thanks again.
sure mate, we all trade the same patterns, but we all trade them a bit differently. For me the pattern location (one that i can understand a bit at lease) was always the key.
are you calling the Shark and Cypher pattern the same ?
No their different Patterns. They do tend to look similar when the Shark is at the 88.6 fib.
Check the ratios: Harmonic Patterns - Shark Pattern