AUD/CHF - Bearish 5-0

Here we have another 5-0 pattern but this time on the 1h timeframe with AUD/CHF.

Price is currently completing the C point at the minimum 1.618 but it could drop further to 2.24 before making a move towards the PRZ.

The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50

Feel free to connect with me on below :)

Trade active:

The C point formed just above 2.24, followed by an aggressive reversal to complete the CD leg.

I'm going short from 0.76400.

Comment:

I'm currently running in around 90 pips profit, I'd like you all to continue holding. If you take a look at the chart below with the ascending channel on the daily chart our take profit level aligns with the bottom trendline.

Providing additional reasoning to stay in the trade :)

Comment:

We're well on our way to approaching the final take profit level! If you want to keep up to date with my trading opportunities be sure to join my Telegram channel :)

Trade closed: target reached:

Hit my final TP gaining 160 pips, well done to everyone who took the trade.

I will alert you all on my next trade via Telegram.