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5-0 Pattern

YOU SAW IT HERE FIRST!!!I really wish that I could have caught that Black Swan Trade. Beautiful set up, damn near perfect. Retraced all the way to the 78.6% FIB LVL and has now exhausted it'self momentarily. Now we are in the retracement stage. Don't worry! The bulls aren't dead by no means. This is just a momentary rest period hence the Bullish flag being formed. Just take it on down to the 50% Fib retracment then throw the house at it @ $8,800. All comments, btches, gripes, complaints, constructive criticism welcomed. "If I'm not the greatest then i'm headed for it"
BITFINEX:BTCUSD
by slrocheleau
2
XAG/USD Bearish 5-0Hey guys, tonight I'm looking a 5-0 position on silver! I previously had my eye on a bullish shark, which has turned into a bearish 5-0 (see below). Price has already touched the 50% retracement and is beginning to show signs of reversal after the bearish engulfing candle! Price is also about to make a double top on the 1 hour chart. Taking this into consideration, this will be a good area to enter a short position. Price is also re-testing previous support which has turned to resistance due to the change in trend. With 5.0's they are invalid once price reaches the 0.618 level retracement level, so our SL should be just above this point. Risk as always should be a minimum 1:2. 5-0 Ratios B = 1.13-1.618 C = 1.618-2.24 D = 0.5 Analysis will be updated as we go along!
OANDA:XAGUSDShort
by KyleMcQuade
9
NZD/JPY Bullish 5-0 Type-II Entry Hi guys, Here I'm on the 4 hour chart, looking a potential type-ii entry on a bullish 5-0. The pattern has already made an absolutely PERFECT 5-0 formation; all key reversal areas are bang on our key retracement/extension levels. Price has already touched the 50% retracement for the D point, however if price returns to re-test this level we should be looking for a long entry! With this pattern, price should be trader until it re-tests the previous high at the C point .Our stop-loss should be below the 0.618 level, as if price closes below here then the pattern is no longer valid. By keeping the stop below we are minimising the possibility of price testing our stop before the rally to our TP begins. With this in mind, there is also an inverse head and shoulder pattern forming on the daily/weekly chart with the C point at the neckline. The right shoulder has not yet formed and I would not be surprised if this is it in the making. Should this be the case, I will adjust my stop loss once price either meets the neckline or the first TP level of 0.382 (whichever comes first). 5-0 Ratios B = 1.13-1.618 C = 1.618-2.24 D = 0.5 I am also short the GBP/NZD AND expecting a drop on the AUD/NZD if similar support is broken (see below). Using this position as sentimental confluence, it is conceivable that the NZD strength may be present in the Yen pair also. If price does return to the D point I will drop down to the 1 hour time frame to judge my entry. Analysis will be updated as time goes on! Thank you.
Long
by KyleMcQuade
2
CHF/JPY - Bearish 5-0Hello traders, here we have a bearish 5-0 pattern on the 1h timeframe with CHF/JPY. Price formed a valid C point at the minimum 1.618 level and is now heading towards completion at 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 I expect price to stall in between 50% and 61.8% retracement levels, this is a key area of resistance and most likely where price will reverse. I hope you all have an excellent week and safe trading!
Short
by LewisGlasgow
4
IOTA - Bullish 5-0 (A Parabolic State)What's up traders, today I've got another outlook on cryptocurrencies and my target is IOT/BTC on the 4h chart. Price has formed a valid bullish 5-0 pattern which aligns with the majorities vision for the asset... I believe there is huge upside potential and this trading setup could potentially identify the end of the correction. 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 B point forming at a solid 1.13 which is a failed price wave, as price quickly reversed from this level preventing the price of the asset declining further. All point of the pattern formed on exact projections, such as the C point at 2.0. The pattern officially completes at the 0.5 retracement level of B to C but in this situation I'm using 0.618 as the maximum buy point, which you will see happen frequently in these formations, price will pass 50% to test the lower level... If we see a clear close below the 0.618 the pattern is void in my opinion. As you can see we have a price gap on the left of the chart which aligns with the 3.14 projection for this parabolic move, I see the market attempting to fill this gap. I hope you all have a great weekend when it comes.
Long
by LewisGlasgow
96