Euro / Japanese YenEducation
EJ SHORT + LESSON ON SHARK / CYPHER
How to determine the difference between a shark and a cypher as they are very similar. If I have time I'll try to catch the 5-0 trade on this one also. Extra addition: as you can see there were a lot of sellers in the 0.886 retracement too (as it is the first entry spot for a shark). You can determine if this is a false selling point by using the ABCD.
You sell at the 1.13 retracement from the XA leg, as Sharks tend to evolve into 5-0 patterns I trade this with only 1 profit target (near the 0.5 retracement of the CD leg) and then go long.
You sell at the 1.13 retracement from the XA leg, as Sharks tend to evolve into 5-0 patterns I trade this with only 1 profit target (near the 0.5 retracement of the CD leg) and then go long.
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