glennmercer
Short

GBPCAD Short: Bearish 5-0 Pattern Complete

FX:GBPCAD   British Pound/Canadian Dollar
a year ago
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.
a year ago
Trade closed: target reached: Target achieved: +720 Pips
Follow me on twitter: @gmercerfx
Shoot me an email: gmercerfx@gmail.com
FullTimeTrader
a year ago
Im also short here, interesting and rare pattern. Regards.
+1 Reply
glennmercer PRO FullTimeTrader
a year ago
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!
Reply
FullTimeTrader
a year ago
Excellent!!
Reply
glennmercer PRO FullTimeTrader
a year ago
Thanks cheers!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out