Hello traders, following up from my previous post on USD/CHF with a descending channel (chart is shown below), price has now formed a perfect bearish 5-0 pattern on the 4h chart.
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 consider this pattern to be perfect as both B and C points come in a 1.618.
Currently price is stalling at the top of the channel, I'm expecting a sell-off right down to support.
I hope you all have an excellent week.
Here's to your success!
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 consider this pattern to be perfect as both B and C points come in a 1.618.
Currently price is stalling at the top of the channel, I'm expecting a sell-off right down to support.
I hope you all have an excellent week.
Here's to your success!
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