Hello traders, here we have EUR/CHF with a bearish shark pattern on the 4h chart.
This is an excellent shorting opportunity with over 1:2 risk to reward!
The measurements for a valid shark are detailed below.
C: 1.13 - 1.618
D: 1.618 - 2.24
Final X to D: 0.886 - 1.13
This pattern could potentially turn into a 5-0 in the near future, after a successful short.
To add to this short position check out my analysis on the daily chart below.
Price seems to be respecting key levels... We've just hit the top of a descending channel, I'm expecting further downside movement.
Feel free to connect with me below :)
This is an excellent shorting opportunity with over 1:2 risk to reward!
The measurements for a valid shark are detailed below.
C: 1.13 - 1.618
D: 1.618 - 2.24
Final X to D: 0.886 - 1.13
This pattern could potentially turn into a 5-0 in the near future, after a successful short.
To add to this short position check out my analysis on the daily chart below.
Price seems to be respecting key levels... We've just hit the top of a descending channel, I'm expecting further downside movement.
Feel free to connect with me below :)
📈 Master the Art and Science of Trading: www.sixfigurecapital.com
