Hello, traders! This set up is looking too good to pass!
Here we have a bullish 5-0 on the 4H chart with NZD/CAD.
Absolutely nothing but GOLDEN RATIOS & 50% RETRACEMENTS.
With price making its way up to C point (0.96176),we will look for price to reverse and make it way down to D point (0.93955) and completing the pattern.
It should be noted that C point (0.96176) is a strong support/resistance zone in the market.
Risk/Reward Ratio - 1:3.5
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
Here we have a bullish 5-0 on the 4H chart with NZD/CAD.
Absolutely nothing but GOLDEN RATIOS & 50% RETRACEMENTS.
With price making its way up to C point (0.96176),we will look for price to reverse and make it way down to D point (0.93955) and completing the pattern.
It should be noted that C point (0.96176) is a strong support/resistance zone in the market.
Risk/Reward Ratio - 1:3.5
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
