GBPCAD Short: Bearish 5-0 Pattern Complete

FX:GBPCAD   British Pound / Canadian Dollar
GBPCAD             has satisfied the conditions of a bearish 5-0 pattern at the 50% retracement of the CD leg. Missed monthly pivots for June and July of 2015 will likely help drag the pair down to the target area. There is tight zone of confluency around 1.978 shared by .786 XO, 1.272BC projection, and .786BC=DE, which makes for a nice area to take profit. The next level to look for on the downside would be the missed pivot for July.
Trade closed: target reached: Target achieved: +720 Pips
glennmercer FullTimeTrader
Thanks cheers!
Im also short here, interesting and rare pattern. Regards.
+1 Reply
glennmercer FullTimeTrader
Yes the 5-0 pattern has worked very well on smaller TF's, this is the first I've traded on the D1. I've seen successful setups on daily and weekly charts by Scott Carney, however. GL!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out