Hello, everyone! I hope everyone week is going well.
Today, we are looking at a bearish 5-0 on the 1D chart with the NZD/CHF.
Price is making its way down to C point measuring in at 1.618, which is also a very strong support and resistance zone for this pair.
With price reversing at C point, we can look to place a position at the 0.50 retracement coming in around 0.7024
Risk/Reward Ratio - 1:3
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
Today, we are looking at a bearish 5-0 on the 1D chart with the NZD/CHF.
Price is making its way down to C point measuring in at 1.618, which is also a very strong support and resistance zone for this pair.
With price reversing at C point, we can look to place a position at the 0.50 retracement coming in around 0.7024
Risk/Reward Ratio - 1:3
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
