Pull Back FishingWill the 1.13 hold?
Bull sharks can pull to the .886 or the 1.13. Recognizable because the 2nd peak is higher than the first peak. The only other pattern, harmonically that I know of (O: that does this is a Cypher and it's CD leg only pulls to the .786. DASH has passed the .786. The shark has no rules for the 2nd leg (which is down or a retracement of the impulse wave up. The impulse wave is the first wave up in a bullish shark pattern, and is a 1st wave down in a bearish pattern. The 2nd leg is a retracement of the impulse wave and the shark has no rules for this 2nd leg other than it can not go below O (the other harmonic patterns this would be the XA leg. In a shark pattern it is the OX leg. Go figure (o:
I do not like to delve in to harmonic patterns too much, but I do recognize on may be in play. They are complicated and a lot depends on where you wish to place the 1st leg up, or the impulse wave. So in my opinion they can be very subjective. I would think this is a butterfly if it were not for the higher peak on the 2nd run up. I am not labeling this as anything at the moment in case the 1.13 does not hold. After all, in the scheme of things, it does not matter as long as DASHUSD makes a bottom and stops tormenting me (o:
No recommendation but I am hoping a bottom is in (o:
