5-0 Pattern
EURUSD Bullish 5-0 Monthly ChartThis is a bullish 5-0 pattern, formed in monthly chart.
The first bounce from 50% retracement (around 1.1450) reached 38.2% retracement of February high to August low around 1.1800/1.1780 before the pair resume downtrend and reached AB=CD projection.
Stop loss below 1.1180.
USDJPY - 2 Sharks and a 5-0 across 2 timeframesUSDJPY - 2 Sharks at different timeframes, what can you expect?
On the hourly chart, USDJPY has completed a bearish shark.
We are right there at the PRZ right now.
If the market reacts and USDJPY reverses from here, we can expect it to reach 112.95 which is the TP1 of the shark pattern.
Small Shark execution
PRZ 113.30
SL 113.70
TP1 112.95
TP2 112.65
At 112.95, USDJPY can either fall further or rebound from a bullish 5.0 pattern.
In the bigger timeframe, we have a big shark completing at 114.50.
Therefore, my GUESS is USDJPY will rebound from 112.95 after the 5-0 completes to confirm the bigger shark at 114.50.
Big Shark execution
PRZ 114.50
SL 115.70
TP1 112.90
TP2 111.70
INTC 5-0 Pattern - contrarian upside move trade 56.5 targetINTC 0-5 pattern - the likely resolution of this pattern is downside, but if it can't go down, then it violently pushes upward to 88.6%. This is a contrarian trade, lot of people are betting downside move, options are skewed a lot to downside, so likely it goes up, the risk to reward is to upside.