Hello traders, here we have another 5-0 pattern but this time on the 1h timeframe with BTC/USD.
The 5-0 pattern is complete but I'm expecting another drop to the D point before rallying to 1074, this is an excellent buying opportunity with over a 1:4 risk to 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
I hope your week is full of profit, safe trading everyone!
The 5-0 pattern is complete but I'm expecting another drop to the D point before rallying to 1074, this is an excellent buying opportunity with over a 1:4 risk to 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
I hope your week is full of profit, safe trading everyone!
Note
This is why I love the 5-0, never fails to amaze me.Note
After the successful move from 910 to 1349 price collapsed literally overnight. Since then price formed a bullish bat pattern which has now hit the first retracement level of 0.382.
📈 Master the Art and Science of Trading: sixfigurecapital.com
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Master the Art and Science of Trading: sixfigurecapital.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.