In my previous idea we have seen that on 1 hour chart the Ethereum with Bitcoin pair was forming bullish Shark then finally as per prediction the priceline entered in buying zone and after hitting the sell zone dropped down.
Before execution:
Click here to visit this previous article on tradingview
After execution:
Formation of new Shark pattern:
This time again on short term hourly chart the price action of Ethereum with US dollar par is forming another bullish harmonic Shark pattern and soon it will be entered in potential reversal zone.
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Buying And Sell Targets:
The buying and sell targets according to harmonic Shark pattern should be:
Buy between: $152.95 to $150.74
Sell between: $154.86 to $159.24
Stop Loss:
The potential reversal zone area which is up to $150.74 can be used as stop loss in case of complete candle sticks closes below this level.
Possible profit and loss ratio:
As per above targets this trade has the profit possibility of 5.63% and as per above mentioned stop loss, the loss possibility is 2.82 %.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
