EURJPY - 5-0Pattern
A Bullish 5-0 Pattern complete on the Weekly Chart. If you had engaged the Bearish Shark Pattern I've shared last year, you would have gained a total of 848pips by just waiting for it to hit the profit level.
Trading the Shark Pattern isn't an easy task as it can have up to 3 different entry zone, which means when you get stopped out the 1st time, you should engage the 2nd and 3rd times as long as formed up in those areas.
But if you did short this, you would have gained a total of 848pips.
5-0 Pattern is much easier as it has only 1 entry zone and 1 profit level. You only need to wait for candle confirmation to trade back up to the profit level.
I will be waiting for a double bottom setup with RSI Divergence on a lower timeframe to take advantage of the setup.
Trading the Shark Pattern isn't an easy task as it can have up to 3 different entry zone, which means when you get stopped out the 1st time, you should engage the 2nd and 3rd times as long as formed up in those areas.
But if you did short this, you would have gained a total of 848pips.
5-0 Pattern is much easier as it has only 1 entry zone and 1 profit level. You only need to wait for candle confirmation to trade back up to the profit level.
I will be waiting for a double bottom setup with RSI Divergence on a lower timeframe to take advantage of the setup.
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Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
tiktok.com/@raynlim
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