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5-0 Pattern

Bearish 5-0 Entry Below Ascending Broadening Wedge Demand LineJust Like BTC Did a Few Weeks Ago , The SPY has broken below an Ascending Broadening Wedge Demand Line and has formed a Bearish 5-0 at the tail-end of the breakout. The Reciprocal AB=CD PCZ of this Bearish 5-0 takes us to the 55% Fibonacci Retracement and that's where we closed today. If we get follow-through price action we should see the SPY Continue Downwards from here and perhaps fulfil the Measured Move of the Ascending Broadening Wedge and take us all the way back down to $344.43
AMEX:SPYShort
by RizeSenpai
6
nifty hourly chart gann viewnifty has created a 5-0 pattern in price action, 17530 becoming a buying zone with stoploss 17480for chart mentioned resistance targets, below 17500 a bearish view might come where 17350 will be a major support. 17890 becoming the median line of 2008 market top exactly from there market has plunged, quite possible a more downtrend we can see if 17500 breaks, but as it is a close above 17500 for the first time ever, next week nifty must be safe above 17500. as for a long time there were no sharp downward movement as given today, gann fan has been put the top to analyze further the market behaviour, as long as the upper 1/8 line is crossed over, nifty to be considered in an alert mode.
NSE:NIFTY
by Somanathrout