Ending Channel was formed with 5 clear points (elliott impulse) and formed a Three Drive Pattern at top for bearish movement. thanks to that bearish movement a Shark Pattern was formed with some confirmations: - A-B must touch 0.382, but cannot touch 0.618 - B-C must touch 0.618, but sometimes exceeds A retesting previous levels (FIbo A-B), or just keep an eye on that 0.236. - D completion at 0.886 (Fibo X-A) - take profits at 0.382 and 0.618 (Fibo C-D) - third TP would be long term back to where it all started But we also have another TP around 0.786 - 0.886 area for Ending Channel completion. Good Trading. -1h Chart
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Shark Pattern completed at 50 % with some news volatility afterwards, at this point I expect price to be bearish. Good Trading. - 1h Chart