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Trader-Mick
Oct 19, 2015 1:11 PM

The truth of 5-0 Pattern ( Educational)  Education

Australian Dollar/New Zealand DollarFXCM

Description

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


Comments
IvanLabrie
Interesting one.
Trader-Mick
Thanks, It has pretty good structures.
KevinSinghDhaliwal
On this one too, thanks for posting
Trader-Mick
Welcome, Hope this works :)
ArAlshammary
good chart
i think the entry point at 1.57
AgentHK
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?
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