Here we have a bullish shark pattern on AUD/CHF 0.97% visible on the 4 hour chart.
Conditions for a valid pattern are:
- AB leg extends OX leg between 1.13 – 1.618
- BC leg extends beyond O by 1.13 of the OX leg
- BC leg is also an extension of AX by 1.618 – 2.24
Take profit is set at 0.382 and 0.618 retracements of CD. At target 1, half position will be closed and the stop loss moved to breakeven.