Hello traders!
I am SUPER excited about this set up. I have been keeping an eye on this since markets opened this week.
We are looking at a bullish 5-0 on the 4H chart with NZD/USD.
Given the Fibonacci measurements at C point, it has been measured to the GOLDEN RATIO not only once...not twice...but THREE TIMES!
I usually never trade this pattern down unless the first 4 measurements of a 5-0 match a shark pattern, but you cant ignore confirmation like this.
I'll be trading this pattern down until it hit D point (0.7010), closing profit and following it up with a long position back up to (0.7200).
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 am SUPER excited about this set up. I have been keeping an eye on this since markets opened this week.
We are looking at a bullish 5-0 on the 4H chart with NZD/USD.
Given the Fibonacci measurements at C point, it has been measured to the GOLDEN RATIO not only once...not twice...but THREE TIMES!
I usually never trade this pattern down unless the first 4 measurements of a 5-0 match a shark pattern, but you cant ignore confirmation like this.
I'll be trading this pattern down until it hit D point (0.7010), closing profit and following it up with a long position back up to (0.7200).
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
