This is an update of my previous idea. I am still short with a small position from a smaller shark and am now looking to short again based on this 1.13 shark.
This shark completes around the 61.8% retracement of the last move down (see daily chart) and around a possible "down" trendline. I will open a sell limit order to enter on completion of the shark with SL above the trendline and above the 1.1000 level.
I might enter an additional short depending on PA around the 1.1000 level with only one TP at the 38.2% retracement.
I have put 4 possible targets on the chart, if it works out I will take at least 60-70% profit at TP1 and will divide the rest over the remaining targets.
This shark completes around the 61.8% retracement of the last move down (see daily chart) and around a possible "down" trendline. I will open a sell limit order to enter on completion of the shark with SL above the trendline and above the 1.1000 level.
I might enter an additional short depending on PA around the 1.1000 level with only one TP at the 38.2% retracement.
I have put 4 possible targets on the chart, if it works out I will take at least 60-70% profit at TP1 and will divide the rest over the remaining targets.
