Shark Pattern

The Shark pattern is a lesser-known harmonic chart pattern used by traders to identify potential trend reversals in financial markets. It is a five-point pattern that involves an initial impulse leg, followed by a retracement forming the X point, then an extended move forming the A point, a deep retracement that forms the B point at the 1.13-1.618 Fibonacci extension of XA, an extended move that forms the C point, and finally, the completion of the pattern at the D point, which forms at the 1.618-2.24 Fibonacci extension of BC.

The Shark pattern is a relatively rare pattern, and it can be challenging to identify accurately. Traders who are experienced in recognizing the shark pattern can use it to identify potential entry and exit points in the market, as well as to set stop-loss and take-profit levels. However, with Harmonic Patterns Suite, finding Shark patterns is a piece of cake for anyone.