I hope to catch a signal around 0.618 fibonacci level (also a good support) for a long position. Good luck all.
Powell said "we are also mindful that monetary policy should not overreact to any individual data point or short-term swing in sentiment. Doing so would risk adding even more uncertainty to the outlook"
Just spotted it, I'm not very experienced with trading 5-0's, I've never traded one but I just spotted this baby and it seems to fit all of the criteria. There is also an AB=CD pattern in the final leg of the 5-0.
Reasons, stop and target are on the chart. MA200 on 4h time frame also a good resistance here. Good luck all.
SKY / BTC : BUY : 0.00016 SEL : TARGET 1 : 0.00020 TARGET 2 : 0.00024 TARGET 3 : 0.00029 STOP LOS : 0.0000020
Changed strategy relying on US-China, Global Damaged and Expected Rate cut
NZDJPY tested the bottom set on the 3rd of January 2019 at 70.71. Now, it seens to be creating a Bullish 5-0 Pattern or Bullish 50% reversal, however, as I like to trade between Proyected Reversal Zones (PRZ). I have added the 0.618 retracement. Potential Targets T1 -(72.78) 100% extention of the move assuming that the bottom has been establish, otherwise,...
5-0pattern setup for trend trading opportunity, let's wait for 2nd chance entry for this.
I hope this well help people to have more patient on trading XAUUSD :D
Aggressive short trade engaged once Sell trend on the 1-hourly chart has been confirmed with a Pin-Bar more than half of the sell zone. This trade is a 1:1 let see how this roll out. 5-0 Pattern Trader who caught this, congrats.
Waiting for a double top to engage this short trade as a trend-continuation trade. Great trading opportunity for aggressive trend traders but to note the stops might have to place above the bigger pink box in preventing stop-out. Conservative trader can look into single target engagement. Did I mention it is also a 5-0 pattern? :)