CAD/CHF - Bearish 5-0 Short

CAD/CHFOANDA

Description

⋅ Apr 28, 2017 1:07 PM

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

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

Price is currently completing the C point at the maximum 2.24, exceeding this level would invalidate the pattern.

I'll be looking to go short from 0.74250.

I hope you all have a great weekend :)

Comments

MongkolchaiPetruecha

⋅ May 16, 2017 10:52 AM

nearly miss but I also got that TP, Thank you.

LewisGlasgow

⋅ May 16, 2017 10:53 AM

@MongkolchaiPetruecha, pattern did not complete but would've been a nice trade :)

Potter413

⋅ May 1, 2017 5:05 PM

What's your take on riding the pair up? Some analysis? Thinking 0.7315 is a good entry up. Just my opinion.

mrmtch1

⋅ Apr 28, 2017 9:43 PM

you really love this 5.0 joint. i just dont get how you figure the wave to start from

LewisGlasgow

⋅ Apr 29, 2017 10:52 AM

@mrmtch1, one of my favourite patterns :) the formation is similar to a shark pattern with one extra price leg.

Spiderweb

⋅ Apr 28, 2017 6:44 PM

CHF/CAD - Went short @ 1.3750 or Long CADCHF .7250

fender0strat

⋅ Apr 28, 2017 1:09 PM

Thanks

LewisGlasgow

⋅ Apr 28, 2017 1:16 PM

@fender0strat, you're very welcome!