Hello traders, it appears EUR/JPY is also forming a 5-0 pattern on the 4h chart. This is an excellent opportunity with a potential 250+ pip return!
Price is currently completing the C leg with the minimum 1.618 level shown but it could push up further to complete at 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
I hope you all have a great week :)
Price is currently completing the C leg with the minimum 1.618 level shown but it could push up further to complete at 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
I hope you all have a great week :)
📈 Master the Art and Science of Trading: sixfigurecapital.com
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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.