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LewisGlasgow
Apr 21, 2017 12:19 PM

EUR/CHF - Bearish 5-0 Short

FX:EURCHF1D
Euro Fx/Swiss FrancFXCM

Description

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I'm back with another 5-0 pattern but this time on the daily timeframe with EUR/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 forming the C leg which will complete in between 1.618 and 2.24, it will more than likely complete at 1.618 level.

If it drops lower it will complete a bullish shark pattern (chart is shown below), providing a double trading opportunity.



This is an early prediction but I love to pick out market turning points :)

Wait until price completes both points C and D before going short.

I've got more analysis on the way, stay tuned!
lewisglasgowlewglasgowsixfigurecapitalsix0005-0 Pattern
Comments
MichaelCollins18
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Just daily though? I wouldn't even know how to use one mate!
LewisGlasgow
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@MichaelCollins18, they can be applied to any timeframe but for me personally, I use a 200 (EMA) on the daily chart.

Don't worry that's going to be covered in the harmonic mastery :)
MichaelCollins18
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@LewisGlasgow, haha cheers, aye I wasn't sure like! looking forward to that video too!
MichaelCollins18
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What is the line that drops down on the first chart mate?
LewisGlasgow
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@MichaelCollins18, 200 exponential moving average (EMA), it's a good indicator to use on the daily timeframe.
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