EUR/USD - Bearish 5-0 Short

EUR/USDOANDA

Description

⋅ Apr 13, 2017 9:57 AM

Wow this is huge! Today we have EUR/USD on the daily chart with a bearish 5-0 pattern, I'm absolutely loving the look of this setup already!

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

This pattern links in with my previous idea for EUR/USD with a bearish three drives pattern (chart is shown below).

I'm currently long from the beginning of the 3rd price drive, once price hits 1.09800 I'll be going short.

This chart is full of confluence, multiple harmonic patterns complete in the same price zone, providing additional confirmation to take the trade.

I'd like to thank you all for your continued support, keep sharing and liking my ideas.

Feel free to connect with me on social media :)

Comment

⋅ Apr 26, 2017 10:01 AM

I'm waiting for one final push up before going short, price seems to be reacting with the top trendline of the ascending channel.

Comments

nadavtalalmagor

⋅ Apr 13, 2017 10:00 AM

you da man Lewis

LewisGlasgow

⋅ Apr 13, 2017 10:01 AM

@nadavtalalmagor, NO you is da man ;)

mubashir.abdullah

⋅ Apr 13, 2017 10:26 AM

@LewisGlasgow, well done on believing on your own levels and providing a simple chart analysis...keep up th good work.

LewisGlasgow

⋅ Apr 13, 2017 10:27 AM

@Mubashir.abdullah, thank you very much! I've got more analysis on the way.

ridafad52

⋅ May 17, 2017 10:19 PM

mdimasj

⋅ May 5, 2017 9:21 AM

hey bro, is this active ?

apa1620

⋅ May 4, 2017 4:25 PM

Potentially looking to enter this sell next week after the smoke clears from the French elections. I've been watching this one for a while!

apa1620

⋅ May 10, 2017 9:34 PM

I might've jumped in this one early a few hours after the market opened this week...but it was worth it! 120+ pips and counting!

kisacafb

⋅ Apr 27, 2017 6:59 PM

Hi Lewis,

still waiting final push up or already shorted ?

SharkbaitAl

⋅ Apr 26, 2017 10:39 PM

Hey Lewis. I am trying out my first 5-0 pattern using the Euro FX futures chart. Does this look right to you?

Also, any advice on where your place your stops and tp on the 5-0 pattern will be really helpful -- although I am sure I can figure it out as I keep looking through your old ideas. Thanks again for all you do here!