Description
⋅ Hello, Traders!
Today, we have GREAT structure forming on GOLD!
Here, we have a bullish shark and a bearish 5-0 pattern. I personally, LOVE these set ups... GOLDEN RATIO X2!
Price has temporarily retraced at a support & resistance zone, which is also X point, but the down trend continues.
With these types of set up, we ALWAYS look for the DOUBLE PLAY:
1. BUY the Shark
2. CLOSE at the 50% retracement
3. SELL the 5-0
SUPER excited to share this one with you guys and to watch this structure develop with you all.
PLEASE set your stop loss appropriately, paired with proper account management.
The measurements for a valid shark are detailed below.
C: 1.13 - 1.618
D: 1.618 - 2.24
Final X to D: 0.886 - 1.13
Risk:Reward -
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50