I'm back with another 5-0 pattern but this time on the 1h timeframe with EUR/CAD.
Price is currently completing the C point in between 1.618 and 2.24, it may alter the PRZ depending on where it completes.
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 expect price to fill the 200+ pip gap and stall out at the 50% retracement level as this has proven to be a key level in the market, once this happens I will be looking to go long.
Feel free to connect with me on social media :)
Price is currently completing the C point in between 1.618 and 2.24, it may alter the PRZ depending on where it completes.
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 expect price to fill the 200+ pip gap and stall out at the 50% retracement level as this has proven to be a key level in the market, once this happens I will be looking to go long.
Feel free to connect with me on social media :)
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