Hello traders, here we have a bullish 5-0 pattern on the 4h timeframe with NZD/USD.
Price just formed a valid C point at the minimum 1.618 level which aligns with a valid bearish shark pattern, which has opened up a shorting opportunity from C to D.
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
Taking a look at the daily chart below price is still respecting the upper resistance trendline.
If we experience a successful short position from C to D, this will open up an opportunity to buy in the future.
I hope you all have an excellent week and safe trading!
Price just formed a valid C point at the minimum 1.618 level which aligns with a valid bearish shark pattern, which has opened up a shorting opportunity from C to D.
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
Taking a look at the daily chart below price is still respecting the upper resistance trendline.
If we experience a successful short position from C to D, this will open up an opportunity to buy in the future.
I hope you all have an excellent week and safe trading!
📈 Master the Art and Science of Trading: www.sixfigurecapital.com
