Last week we saw this harmonic bullish shark pattern appear on the 4 hour chart.

Here is the harmonic alert from the members section of the website.

USDCAD harmonic bullish shark alert

So here is the pattern as alerted by the system

USDCAD bullish shark

Notice that as with all harmonic patterns they are trying to get you to trade in the opposited direction of the prevailing trend. So we have to apply some price action analysis and knowledge to the chart and actually wait until we have seen a reversal

So here is that analysis:

USDCAD bullish shark analysis

You can see that there was a downtrend as shown by the touches of the price at 1,2,3. We have also hit what could be support where the pattern started to form up on the left hand side. Support did indeed hold and price action broke the trendline which would have given you your entry.

This is a good example that when using harmonic patterns you need to be patient and wait for the price action to show you that a reversal may actually happen.