USD/JPY - Bearish 5-0
Here we are looking at a bearish 5-0 pattern on the 1h chart with USD/JPY.
As price continues to drop this week, we have an opportunity for price to reverse at the the C point measuring at 2.24.
This is the maximum extension for the C point on the 5-0 pattern, which continues to leave the opportunity open for profit.
The measurements for this pattern are coming in so perfectly that I will be opening a position
to follow price from C to D point.
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
As price continues to drop this week, we have an opportunity for price to reverse at the the C point measuring at 2.24.
This is the maximum extension for the C point on the 5-0 pattern, which continues to leave the opportunity open for profit.
The measurements for this pattern are coming in so perfectly that I will be opening a position
to follow price from C to D point.
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
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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.
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.