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5-0 Pattern

AUDUSD EW Update: 5-0 Pattern to Enter BatPreviously, I posted this: I don't normally set limit orders without first seeing a sign of reversal in the form of an impulse that aligns with the wave count. This is yet another example of why this is important. This 15m 5-0 trade is a great opportunity to trade the bat pattern after first seeing a bearish impulse and setting the SL to maximize your R/R. This is the more conservative and my preferred approach. Limits can be set on 5-0 patterns assuming no major news events are scheduled. Happy Trading
Short
by glennmercer
GBPJPY Short: 5-0 Pattern to Missed PivotsHey Traders! GBPJPY has entered the potential reversal zone for point E on a 5-0 pattern. The short at the 0.500 fib retracement remains valid unless price drops lower than 1.345 without entering the short area. Any entry into the short area from these levels will warrant a short and the pattern will be triggered and active. SL is placed above point B with target at the lowest missed pivot, confluent with the missed weekly pivot from last week. Happy Trading! GM
Short
by glennmercer
2
Crude Oil - Bullish 5-0 ReviewToday we have one for the swing traders on a Daily chart with USOIL reviewing my analysis posted around 5 months ago with a bullish 5-0 pattern. I'm still sticking to my guns by saying the long term picture for Crude Oil is bearish! Straight away you can see price is slowly approaching our 200 EMA which is a decisive point in the market, I expect a spike up creating a new lower high followed by a sharp move to the downside reaching the $35 mark in months to come. In the near future I will be going into the shorter time-frames for additional analysis. Do you want more trading inspiration? Connect with me below :) Instagram: www.instagram.com Facebook: www.facebook.com
FX:USOILShort
by LewisGlasgow
XAG/USD - Bearish 5-0It's a Saturday night, market are closed and I've had an absolute stormer of a week. Now it just keeps getting better, we have XAG/USD on a 1h chart with yet another 5-0 pattern but this time it is bearish. I'm absolutely loving the look of this, if we can complete our D leg I'll be going short. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 View related analysis on this pair below, I previously traded a bullish 5-0 pattern which was picture perfect... Let's see if the bearish version can live up to the potential. I hope you all enjoy your weekend and I shall see you all on the charts tomorrow evening :)
FX:XAGUSDShort
by LewisGlasgow
EUR/JPY AB=CD with 5-0 PatternEUR/JPY 4H chart. Price has formed a potential AB=CD pattern starting from 27JULY forming C leg at 21JULY with a close .786 retrace. The projection from this is a 1.27 Extension from B. 5-0 Pattern originates just after the 27JULY with a C Leg forming at a 1.13 extension of A. D leg then forms at 2.24 extension of A. 50% of B-D is the next area for entering a buy, a violation of this area will result in a sell down to .886 Messy lines, First time trying to illustrate the trade. Any Comments/Criticisms welcome
by AlexBetts
AUDUSD Short: 5-0 Pattern, Channel Res, 50DSMA, and Weekly PivotHey Traders! It's been awhile since I've shared an idea, I've been working on automating my trading strategy! AUDUSD is approaching a critical level presenting us with an opportunity to enter a 2-3 week short with a nice R/R. The pattern that caught my eye is the bearish 5-0 which I've had success with in the past for 4H-1D charts. In addition to this, we have resistance from the weekly pivot, 50 day SMA, and a parallel channel confluent at the same level. Short entry is placed at the 5-0 "D" point with target at the 1.272 extension. I will likely move stop to B/E around the 50% move to target if triggered. Bearish Confluence: Bearish 5-0 pattern Bearish parallel channel resistance Weekly pivot resistance 50 day SMA resistance Bearish weekly channel Feels great to be back on TV, hope you enjoyed and good luck to all!
Short
by glennmercer
4