Shark Harmonic Pattern, often signals a potential REVERSAL
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Shark Pattern: The ratios seem accurate (e.g., AB=0.886 of XA, and CD=1.13 or 1.618 of XA). "D" falls near the completion zone, aligning with the harmonic guidelines. Support Area:
A strong support level of around 0.5800 adds confidence to the potential reversal. Price reaction near this area supports bullish momentum. Buy Signal:
It could confirm a reversal if the price sustains above 0.5800 and breaks higher (e.g., beyond 0.5880). Next Steps: Entry: Consider entering near the "D" point with tight risk management. Target: Aim for the previous resistance zones, e.g., 0.6000 or 0.6100. Stop Loss: Place stops below the support (e.g., 0.5780). Monitor closely for bullish confirmation candles or increasing volume to validate the trade. Let me know if you'd like further refinements!