USD/JPY - Bullish 5-0 pattern
Here we are looking at a bearish 5-0 pattern on the 4h chart with USD/JPY.
As the market price has been moving down for this pair, it seems that we have reached a point of reversal.
Signaled by a new higher low at B point (circled), this marks a shift in trend and also a completion of an ABCD pattern referenced in my related ideas.
We can look for price to reverse all the way up to C point, then look for a reversal to complete the pattern.
Risk Ratio - 3:1
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
As the market price has been moving down for this pair, it seems that we have reached a point of reversal.
Signaled by a new higher low at B point (circled), this marks a shift in trend and also a completion of an ABCD pattern referenced in my related ideas.
We can look for price to reverse all the way up to C point, then look for a reversal to complete the pattern.
Risk Ratio - 3:1
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.