Pattern Detail

Shark

A five-point structure of two strong extensions into a reaction point where the move is expected to stall.

O X A B C
  • XA = 0.382-0.886 of OX
  • AB = 1.13-1.618 of XA
  • BC = 1.618-2.24 of AB
Idealized bullish Shark. It completes at a low and projects a move up.

Bullish Shark

Limited sample (96). Directional at best.

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How to read this

Everything here is in R, the setup's own risk. 1R is the distance from the entry (the pattern's closing price) to where it would be proven wrong — its lowest low over the 4 bars that form it. So "offered 2R" means price ran twice that distance in your favor at some point before the stop. It does not assume you took profit there: a target is a strategy choice.

Room offered (≥ 1R)

36.5%

Not reliable

Offered at least 1× its risk before the stop, vs 44.1% for a random long entry (-7.6 pts).

Move size vs normal

0.98×

Realized range over the next 20 bars vs a random bar. About normal.

Typical room (20-bar)

0.94R

Average run in favor (capped at 3R), vs 1.16R for a random long entry.

Summary

Offered ≥1R 36.5% of the time vs 44.1% for a random long entry. The 7.6-point gap is no bigger than the ±9.9-point margin of error you would get by chance from 96 occurrences. Not a reliable edge.

Room offered, this setup vs a random long entry

Outcome This setup Random entry Edge
Offered ≥ 1R 36.5% 44.1% -7.6
Offered ≥ 2R 14.6% 24.7% -10.1
Offered ≥ 3R 9.4% 15.7% -6.3
Stopped < 1R 43.8% 42.7% +1.1
Went sideways 19.8% 13.2% +6.6

96 occurrences · 10,656 random-entry controls · 20-bar horizon

Bearish Shark

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How to read this

Everything here is in R, the setup's own risk. 1R is the distance from the entry (the pattern's closing price) to where it would be proven wrong — its highest high over the 4 bars that form it. So "offered 2R" means price ran twice that distance in your favor at some point before the stop. It does not assume you took profit there: a target is a strategy choice.

Room offered (≥ 1R)

48.4%

Not reliable

Offered at least 1× its risk before the stop, vs 43.0% for a random short entry (+5.4 pts).

Move size vs normal

0.92×

Realized range over the next 20 bars vs a random bar. About normal.

Typical room (20-bar)

1.28R

Average run in favor (capped at 3R), vs 1.16R for a random short entry.

Summary

Offered ≥1R 48.4% of the time vs 43.0% for a random short entry. The 5.4-point gap is no bigger than the ±8.6-point margin of error you would get by chance from 126 occurrences. Not a reliable edge.

Room offered, this setup vs a random short entry

Outcome This setup Random entry Edge
Offered ≥ 1R 48.4% 43.0% +5.4
Offered ≥ 2R 28.6% 25.9% +2.7
Offered ≥ 3R 17.5% 17.0% +0.4
Stopped < 1R 37.3% 47.1% -9.8
Went sideways 14.3% 9.9% +4.4

126 occurrences · 10,573 random-entry controls · 20-bar horizon

The Shark, defined by Scott Carney, is a five-point structure labeled O, X, A, B, C rather than the usual XABCD. It is built from extensions instead of retracements, and its signature is the completion: two strong extensions drive price into the C reaction point, where the move is expected to stall and turn back.

How to spot it

  • An opening O-to-X move, then X-to-A retraces 0.382 to 0.886 of OX.
  • A-to-B extends 1.13 to 1.618 of XA, the first strong push.
  • B-to-C extends 1.618 to 2.24 of AB, the second push, driving price into the reaction point. All three ratios hold at once.
  • The structure completes at C, a swing low in an uptrend (a buy) or a swing high in a downtrend (a sell).

The chart above marks the O, X, A, B, C points on a real occurrence, with the ratio of each leg.

Why it matters

The Shark catches a market that is extending hard in one direction and is due for a reaction. C is the reaction point, where the second extension is expected to stall. Because the structure is built from two extensions, C pushes well beyond the prior swings rather than sitting inside them, so the completion is an extension of the move, not a retracement of it. The implied entry fades that overstretched push, betting it has run out of room at C.

That makes the Shark a momentum-fading structure. Fading the C point means betting against a trend that is still building, so a Shark that does not react simply continues. It works when the two extensions overshoot into a level and reverse, giving a clean reaction off C. Because the definition is loose, the shape appears often, which makes it useful for seeing how a high-frequency, momentum-fading setup behaves over a long sample.

The honest question is not whether the shape can be drawn on a chart, it always can after the fact, but whether a completion actually leads anywhere. That is what the data below measures.

Does it actually work?

A pattern is a setup, not a trade, so the question is not “did it win” but “how much room did the move offer before the structure was proven wrong.” The tabs below answer that across five futures markets (Nasdaq, S&P 500, gold, crude oil, natural gas) and seven timeframes from one minute to one day.

For each completion we measure the room price offered in units of the pattern’s own risk, then set it against what a random swing pivot of the same kind would have done. A Shark that turns up from a swing low is judged against ordinary swing lows; one that turns down from a swing high, against ordinary swing highs. When the completion offers more room more often than those random swings, that shows up as a real edge. When it does not, the page says so plainly.

Harmonic structures are rare, so read the sample size in view. On the slower timeframes a Shark completes only single digits of times, or not at all, while the faster timeframes give a larger sample. Thin samples are flagged for you.

How we measured it

  • Entry is the close of the bar that confirms the C point, the earliest a trader could act without hindsight.
  • One unit of risk, 1R, is the distance from that close to C itself, the swing extreme the structure completes at. A move back through C says the pattern has failed.
  • We follow the next 20 bars and record how far price ran in your favor, in multiples of that risk, before C gave way.
  • The comparison is a random swing pivot of the same side, which already sits at a turning point with a tight stop. That keeps it apples-to-apples: the question is whether a Shark swing runs further than an ordinary swing of the same shape, not whether a tight stop flatters the numbers.

What this page does not cover

  • A profit target. Harmonic tradition puts one at a Fibonacci retracement, but where you take profit is a strategy choice, so this measures only the room the structure tends to offer.
  • A trend filter, or confluence with support, resistance, or a higher-timeframe level, which traders normally use to weight a completion.
  • A guarantee. A valid shape on the chart is a setup, not a certainty. What it tends to do next is exactly what the numbers above describe.

FAQ

Do harmonic patterns like the Shark actually work?

Harmonic patterns are described everywhere but rarely tested honestly. This page scores every completed Shark by the room it offered in units of its own risk, measured against random swing pivots of the same kind, and counts a pattern only on the bar its final pivot confirms, so nothing is read in hindsight. The result is a like-for-like comparison rather than the round-number success rates usually quoted for harmonics.

What is the Shark pattern, and how is it defined here?

The Shark is a five-point structure labeled O, X, A, B, C, built from a retracement followed by two extensions. The X-to-A leg retraces 0.382 to 0.886 of OX, A-to-B extends 1.13 to 1.618 of XA, and B-to-C extends 1.618 to 2.24 of AB, driving price into the C reaction point. All three ratios hold at once within a 5% tolerance, pivots use 3 bars on each side, and they are confirmed before they count.

What is the Shark pattern success rate?

There is no single reliable figure, and the round numbers repeated online rarely specify instrument, timeframe, or period. A structure made of extensions is by definition a strong trend, so fading the C point means betting against momentum that is still building. Rather than quote folklore, this page measures how far a completion runs in units of its own risk and whether that beats an ordinary swing of the same shape, across five markets and seven timeframes.

Sample Shark Completions (20)

Based on data through Apr 29, 2026

Time Direction Risk (pts) Room offered Result
Apr 22, 2026 Bearish 11.25 3.00R Ran ≥1R
Apr 10, 2026 Bearish 28.75 0.00R Stopped
Feb 6, 2026 Bearish 39.5 0.80R Stopped
Feb 2, 2026 Bearish 56.75 0.34R Stopped
Oct 10, 2025 Bearish 47.75 3.00R Ran ≥1R
Aug 29, 2025 Bullish 41.75 0.84R Stopped
Aug 1, 2025 Bullish 95.25 3.00R Ran ≥1R
Jul 28, 2025 Bearish 36 1.56R Ran ≥1R
May 15, 2025 Bearish 109 1.07R Ran ≥1R
May 2, 2025 Bearish 55.25 0.22R Stopped
Apr 29, 2025 Bearish 40 3.00R Ran ≥1R
Apr 24, 2025 Bearish 43.5 0.32R Stopped
Mar 7, 2025 Bullish 236 1.21R Ran ≥1R
Feb 20, 2025 Bullish 37.75 3.00R Ran ≥1R
Feb 10, 2025 Bearish 45.5 3.00R Ran ≥1R
Jan 28, 2025 Bearish 32.25 1.92R Ran ≥1R
Dec 5, 2024 Bearish 33.75 0.89R Stopped
Oct 18, 2024 Bearish 65.5 0.03R Stopped
Oct 4, 2024 Bearish 200 0.10R Flat
Aug 29, 2024 Bearish 71.5 3.00R Ran ≥1R

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