LewisGlasgow

USD/CHF - Bearish 5-0

Short
OANDA:USDCHF   U.S. Dollar / Swiss Franc
Hello traders, following up from my previous post on USD/CHF with a descending channel (chart is shown below), price has now formed a perfect bearish 5-0 pattern on the 4h chart.

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

I consider this pattern to be perfect as both B and C points come in a 1.618.


Currently price is stalling at the top of the channel, I'm expecting a sell-off right down to support.

I hope you all have an excellent week.

Here's to your success!
📈 Master the Art and Science of Trading: https://www.sixfigurecapital.com

📘 Download the Harmonic Mastery Ebook (Free): https://www.sixfigurecapital.com/harmonic-trading-ebook

Comments

Nice
+2 Reply
@DeanT, thanks mate!
Reply
This brings more confluence to my USD/CHF Idea, . A lot more confident now
+1 Reply
LewisGlasgow ashddylan
@ashddylan, it looks good to sell, all the best!
Reply
lovely analysis...thanks Lewis.
Reply
LewisGlasgow Ayanda1992
@Ayanda1992, you're welcome :)
Reply
Zockid LewisGlasgow
@LewisGlasgow, Always great following your analysis. Thanks Again Lewis :)
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out