The truth of 5-0 Pattern ( Educational)

FX:AUDNZD   Australian Dollar / New Zealand Dollar
1) AB movement should be 1.13 to 1.618 but not more than 1.618 extension of XA LEG.
BC             movement should be 1.618 to 2.24 extension of an AB LEG
CD movement should be 0.5 retracement of BC             LEG
2) Stop loss: It varies but I prefer few pips below 61.8 retracement of CD
3) Take profits : It varies too But I prefer 38.2% and the 61.8%.
Entries might be done with a limit order

you have done it half of it right, it is not 0.50, it is the same figures as ABCD pattern thats why it hit SL, also why you put SL in such a place?
Interesting one.
+1 Reply
Thanks, It has pretty good structures.
On this one too, thanks for posting
+1 Reply
morshedul.sazid KevinSinghDhaliwal
Welcome, Hope this works :)
+1 Reply
good chart
i think the entry point at 1.57
+1 Reply
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