Description
⋅ This one is looking HUGE!
Here, on the AUD/USD 1D charts we have a BEARISH 5-0 completing.
Throughout my studies of this certain pattern, price tends to bounce between the .50 & .618 range before reversing.
Now, we are just waiting for price to close below the .50 mark and then we will be ready to place our positions!
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50