PA already triggered the bull shark close to $40. If PA turns down to test the lows possible long on 5-0 near weekly TL @37.4
If PA drops on today UK data (earnings, employment) and continues down bullish shark completion @5037 and bearish 5-0 wave3 @5025
Shark completed @58.78 , 5-0 finished wave3 on 161.8 ret. (double 161.8 confluence) for long into shark T1 @63.81 and 5-0 wave4 completion @65.72
PA broke 38.2, the reversal point is in the middle of 38,2-50.
PA broke the channel, completed the shark and wave3 on 5-0 for a ret. into 50 fib of this leg down. PA might ret. to test the breakout and channel boundary.
1. EW sequence completed 2. Bearish shark completed 3. Bullish 5-0 3rd wave 224 ext. completed 4. RSI overbought I guess enough reasons to be short :) Good luck
Credit to C J @Marketrend for this nice pick. 5-0 bearish into bullish gartley.
If EW3 is completed expected ret. on EW4 at least to 83, possible sub 82 on 5-0 50% ret. for a new long.
2 bearish bats and EW4 for a short. At least to T1 @835 or perhaps 826 for a long on bullish 5-0, EW5
If wave3 confirmed, pullback on wave4 and completion of patterns on wave5. This setup is supported by 2 bearish patterns, bat and crab which coincide with a bullish 5-0.
USDCAD! DAILY, BEARISH 5-0 PATTERN
Friends, Since we discussed about #ElliottWave's Diagonal Triangle earlier today, then touched on the Shark and its acolyte the 5-0 Pattern, I thought it might be good to look at another example of these, which seem to line up into a Short opportunity in the $USDCHF pair. FUNDAMENTAL: ECB's RATE DECISION, WHAT IT MAY MEAN TO THE CHF RELATIVE TO EUR: Now, on...