What is shark fin stock trading?

The Shark pattern is a distinct 5-point reversal structure that was discovered by Scott Carney in 2011. It is similar to the Bat Pattern, except for the C point exceeding the BC leg. It can point to a strong counter-trend move.

How many sharks are killed each year for their fins?

73 million sharks
Continued demand for shark fin soup, dumplings, and other shark fin dishes served in restaurants around the world perpetuates the practice of finning, resulting in an estimated 73 million sharks being killed each year for their fins alone.

Is shark finning illegal?

But that would be against state law. California is one of 12 states that bans the sale of shark fins—measures to help prevent further declines of shark populations and to deter finning, which has been illegal in U.S. waters since 2000.

Why is finning practiced?

Shark finning at sea enables fishing vessels to increase profitability and increase the number of sharks harvested, as they must only store and transport the fins, by far the most profitable part of the shark; the shark meat is bulky to transport.

How do you trade a Shark pattern?

Shark Pattern Trading Strategy

1. Enter a limit order to buy as price approaches the swing low at point O.
2. Place a stop loss at the 127% extension of the OX leg.
3. We will use a two-tier target with the initial target set just below point A of the pattern. The second target will be set just below point B of the pattern.

What is bullish Shark pattern?

In a bullish Shark pattern, however, the second top is higher than the first one. In addition, it combines Fibonacci with Elliott waves theory and some new ratios like 113% are used. Here are the key parameters of a Shark pattern: There’s no specific place for A. Point B is at the 113%-161.8% extension of XA.

How valuable is the shark fin industry?

The global shark fin trade is a $400 million business that kills as many as 100 million sharks each year.

What countries allow shark finning?

The top 10 shark fishing nations, in order, are: Indonesia, India, Spain, Taiwan, Argentina, Mexico, Pakistan, the United States, Japan, and Malaysia, with Thailand, France, Brazil, Sri Lanka, New Zealand, Portugal, Nigeria, Iran, the United Kingdom, and South Korea following, comprising the top 20 fishing nations.

Is Shark pattern bullish or bearish?

The shark pattern can be either bearish or bullish. It is as effective as other harmonic patterns and a common variation on trading the pattern is to trade the last leg to completion. A bearish shark mostly shows entry and exit points. Most real-time samples will not have very accurate ratios between OXABC.

Is shark fin soup actually shark?

Traditional shark fin soup or stew is made with fins obtained from a variety of shark species.

Is shark finning illegal in China?

Huge step in the Right Direction. Torben traveled around South East Asia for scuba diving and almost didn’t come back. His affinity for gear that works and his generosity for guiding people on their own path match his energy as editor of all things travel-related.

Why is shark fins so expensive?

The serving of the dish is considered very prestigious and even propitious. Dried shark fin is the most expensive seafood product by weight, and is creating huge incentive for fishermen to hunt sharks, solely for their fins.

Where is shark finning most popular?

Species-specific monitoring through large shark fin market surveys has been a valuable data source to estimate global catches and international shark fin trade dynamics. Hong Kong and Guangzhou, mainland China, are the largest shark fin markets and consumption centers in the world.

How do you trade a harmonic Shark pattern?

This is the most common way the Harmonic Shark pattern is traded by trying to capture the last move of a complex pattern entering at C. It also has a protective stop loss above/below the 2.24 of AB retracement and targeting the 50% retracement of the BC swing-leg.