I'm back with another 5-0 pattern but this time on the 4h timeframe with AUD/JPY.
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
The 5-0 structure has a perfect reciprocal AB=CD pattern within it, which completes at the 50% retracement level at D.
I hope you all have a great week, don't forget to add me on social media!
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
The 5-0 structure has a perfect reciprocal AB=CD pattern within it, which completes at the 50% retracement level at D.
I hope you all have a great week, don't forget to add me on social media!
📈 Master the Art and Science of Trading: www.sixfigurecapital.com
