LewisGlasgow
Long

EUR/CAD - Bullish 5-0

FX:EURCAD   Euro / Canadian Dollar
I'm back with another 5-0 pattern but this time on the 1h timeframe with EUR/CAD.

Price is currently completing the C point in between 1.618 and 2.24, it may alter the PRZ depending on where it completes.

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

I expect price to fill the 200+ pip gap and stall out at the 50% retracement level as this has proven to be a key level in the market, once this happens I will be looking to go long.

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Would it be valid to sell until the pair reached the point D??
I know the whole Idea with harmonic patterns is to wait until the pattern is created
But do you take a short position until the pattern has reached D?
Kind Regards
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@FNKH, it wouldn't be considered a valid pattern until it hits D, however, you can use this analysis to back up your own.
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Hey :))

So you think, if it reaches 1,43693, we can buy and go long yes?

And what id we break that line?


Thank you
Reply
LewisGlasgow TOP ValtsVladimirLiepnieks
@ValtsVladimirLiepnieks, yes I'll be looking to go long at that level.

Pay close attention to candlestick formations and price structure around that level.
Reply
@LewisGlasgow, Thank you

Appreciate :)
Reply
LewisGlasgow TOP ValtsVladimirLiepnieks
@ValtsVladimirLiepnieks, you're welcome :)
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