I will be using an example on EURAUD to share how to draw a perfect Shark Pattern.
This is a currency pair which i personally lost money on last week because I did not spot this big authentic Shark Pattern.
Scrolling through tradingview over the past few months, I realize 2 big mistakes that people are making while trading Shark Patterns.
1. They think Cypher is a real harmonic pattern and Shark is just another name. Absolutely wrong! The ratios on Cypher are not harmonic at all, you might get one or two lucky wins, but Shark is definitely more reliable because the ratios are Harmonic.
2. The point B has no specific requirement, stop confusing it with the Cypher(Siphon your money) pattern.
There are also very clear rules of engagement which you will not find alot of information about it online.
I was personally mentored by Scott Carney back in 2016, so I definitely know the REAL way to draw this pattern.
I used to trade the Cypher until I got to know Scott.
To demonstrate my understanding, I collated what I learned from Scott and wrote a PDF to help other traders.
You can get it by visiting my website which I will share the URL in the comments session below.
Feel free to drop me any questions.
To see how I trade the Shark pattern, I have also included all the recent links where I successfully profited off a REAL shark pattern.
@TerryHarmonicTrading, really nice pattern. We would love to make entry at point D. We just need to spot this pattern before completion :) using your very fine guide, Thanks for this ;)
how can i learn to draw the harmonic patterns do i need to down load the tools cos i cant find all of them in my mt4
I_see_BTC
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Pattern traders should DOWNLOAD and READ Terry's PDF guide on the Shark harmonic pattern. Seriously, I can't recommend it highly enough. It not only lays out the basic structure of the pattern but also various execution strategies and entry guidelines. I keep a copy on my desktop for quick reference.
TerryHarmonicTrading
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@I_see_BTC, thanks for the promotion, appreciate it.
Feel free to ask me any questions on this thread.