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5-0 Pattern

Bearish 5-0 USDJPYHere we have a bearish 5-0 on the dollar-yen. Price is in a downward channel which has also provided a reciprocal AB=CD within the same pattern; the AB and CD waves are completely symmetrical. Price has already touched the 50% retracement and has began to stall- I have taken a short position and will hold until 108.3. My original stop loss was at 112.7, but decided to round it to 113. The only way price will touch 113 is if it is going to be broken! Price is at a key resistance point but I have gave breathing space for price to pivot before dropping or hitting the top of the cannel. Rec. AB=CD Ratios C: 1.13-3.618 D: 0.382-0.886 5-0 Ratios B: 1.13-1.618 C: 1.618-2.24 D: 50%
Short
by KyleMcQuade
Aussie strong signals suggesting bullish movement Fibonacci retracement 50% is a very good place to enter the market with low risk and high reward possibility (see link) . I found many interesting patterns on this chart. Blue rectangle is showing head and shoulders formation on 1H chart. Engulfing candle on 4H chart There is Doji candle suggesting strong buying power at the 50% level There is also GAP from Daily chart down below 50% marked with two blueish parallel lines. All these patterns mentioned above are strong indicator that the pair will move towards TP area.
Long
by Krystiannwk
AUDUSD AB=CD to 3-DriveHere we have a symmetrical AB=CD on the aussie-dollar. You are able to trade ab=cd's on their own, some may go long here. However, i'm not a fan. Due to the set up of this channel, I will wait for the 0.786 retracement, then, rather than waiting for the 3rd drive to complete, I will short the 3rd drive as it reaches the top of the channel. Combining technical analysis with fundamentals: going into next week we are expecting a stronger dollar; tonight aussie exports have been announced and they are slightly higher than expected, rising by 9.4% rather than the forecasted 8.0%. Exports bringing money into the country and adding to the trade balance, this may be enough to strengthen the aussie between now and next week to the extent where it reaches the top of the channel before the short. AB=CD patterns should be as symmetrical as possible- we can see here that both waves equal 52 bars, 2 days and 4 hours exactly. Taking a trend line from A to C, a 0.786 retracement touching the channel would be a marvellous entry. Trading is never as straightforward- I doubt it will hit exactly where i'd like, but i'll roll with it and see where it takes us. My short TP will be in line with point D of the AB=CD, with a stop loss just above the previous high. AB=CD Ratios in addition to symmetry C: 0.618-0.786 D: 1.272-0.618 3-Drive ratios in addition to symmetry Retracements: 0.618-8.272 Extensions: 1.272-1.618
Short
by KyleMcQuade
GBP/USD - Bullish 5-0I'm back with another 5-0 pattern but this time on the 4h timeframe with GBP/USD. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 Price is currently forming the C leg which will complete in between 1.618 and 2.24, it will more than likely complete at the 1.618 level as a bearish deep crab forms in the same price zone (chart is shown below). Excellent trading opportunity with over 1:4 risk to reward. I've got more analysis on the way, stay tuned!
Long
by LewisGlasgow
13
EUR/USD - Bearish 5-0Wow this is huge! Today we have EUR/USD on the daily chart with a bearish 5-0 pattern, I'm absolutely loving the look of this setup already! The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 This pattern links in with my previous idea for EUR/USD with a bearish three drives pattern (chart is shown below). I'm currently long from the beginning of the 3rd price drive, once price hits 1.09800 I'll be going short. This chart is full of confluence, multiple harmonic patterns complete in the same price zone, providing additional confirmation to take the trade. I'd like to thank you all for your continued support, keep sharing and liking my ideas. Feel free to connect with me on social media :)
Short
by LewisGlasgow
35
EUR/CAD - Bullish 5-0I'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 :)
Long
by LewisGlasgow
6
EUR/CHF - Bearish 5-0I'm back with another 5-0 pattern but this time on the daily timeframe with EUR/CHF. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 Price is currently forming the C leg which will complete in between 1.618 and 2.24, it will more than likely complete at 1.618 level. If it drops lower it will complete a bullish shark pattern (chart is shown below), providing a double trading opportunity. This is an early prediction but I love to pick out market turning points :) Wait until price completes both points C and D before going short. I've got more analysis on the way, stay tuned!
Short
by LewisGlasgow
5
Bearish 5-0If you glance at the daily chart for this pair, you can clearly see that price is rising in a channel formation. However, the recent high has met the same resistance as the previous high at 1.03. The strength of this resistance would provide a good entry for any bearish harmonic pattern. With that in mind, from the most recent high, we have a bearish 5-0. Going short form the 50% retracement level of the impulse wave, it is not implausible that price will drop to up to 88.6% of the last wave before heading back towards resistance. I'm taking this 5-0 with a trailing stop loss and a final TP level of 0.995- the 88.6% retracement level of the last correction wave. 5-O ratios B: 1.13-1.618 C: 1.618-2.24 D: 50%
Short
by KyleMcQuade
AUD/JPY - Pattern ConfluenceWow this is huge! Today we have AUD/JPY on the 4h chart with a lot of confluence around the 81.500 level. At this level, price will form a valid bullish crab pattern and the C point of two bearish 5-0 patterns. I'm absolutely loving the look of this setup already! That exact same level is a pivot support in the market as shown below. I'll be looking for additional confirmation to go long, if successful it will soon be followed by a short position around 84.800 I'd like to thank you all for your continued support, keep sharing and liking my ideas. Feel free to connect with me on social media :)
by LewisGlasgow
69
gartley, 5-0 and channel.Here we have a bearish 5-0 completing inside a channel. I have gone short since the top of the channel and will be holding that position until 0.985. The 5-0 also helps complete the consolidation waves of the Gartley. The Gartley completes among a strong pivot area on the daily chart where price has previous made a major reversal. As previously mentioned, I am not most impressed by 5-0's but this set has multiple layers to it. This confluence is EXACTLY what we need when trading harmonics. Gartley ratios B: 0.618 C:0.382-0/886 D:1.272-1.618 xD: 0.786
by KyleMcQuade
EURUSD 5-OHappy Friday, Troops. I haven't been active in a while- I've been working on those 5-o's. They still aren't doing anything for me, I'm a much bigger fan of the Ms and Ws, but here goes. As harmonic swing traders we look at the daily chart for direction and use the 4 hour to find a pattern that fits direction (in a nutshell)- I occasionally look at daily patterns with support and resistance from weekly charts but that's once in a blue moon. If you look at this daily chart there's a ascending wedge; within said wedge we have a 3-drive pattern. I'll be long until the 3-drive is complete. At which point, a bearish 5-o is completing on the daily chart. I'll be looking for a short signal from around 1.095(ish), and entering until the pivot point around 1.06. Again, I'm new to the whole 5-O game, it was suggested to me by a friend- lets see how this plays out!
by KyleMcQuade
1