Here we have another 5-0 pattern but this time on the 1h timeframe with AUD/CHF.
Price is currently completing the C point at the minimum 1.618 but it could drop further to 2.24 before making a move towards the PRZ.
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
Feel free to connect with me on below :)
Price is currently completing the C point at the minimum 1.618 but it could drop further to 2.24 before making a move towards the PRZ.
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
Feel free to connect with me on below :)
Trade active
The C point formed just above 2.24, followed by an aggressive reversal to complete the CD leg.I'm going short from 0.76400.
Note
I'm currently running in around 90 pips profit, I'd like you all to continue holding. If you take a look at the chart below with the ascending channel on the daily chart our take profit level aligns with the bottom trendline.
Providing additional reasoning to stay in the trade :)
Note
We're well on our way to approaching the final take profit level! If you want to keep up to date with my trading opportunities be sure to join my Telegram channel :)Trade closed: target reached
Hit my final TP gaining 160 pips, well done to everyone who took the trade.I will alert you all on my next trade via Telegram.
📈 Master the Art and Science of Trading: sixfigurecapital.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Master the Art and Science of Trading: sixfigurecapital.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.