AUD/USD - Bullish 5-0

FX:AUDUSD   澳元/美元
I'm back with another 5-0 pattern but this time on the 4h timeframe with AUD/USD .

Price is currently completing the C point in between the 1.618 and 2.24 extension but it could push up further before making a move towards the PRZ.

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 you all have a brilliant weekend!
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Why not shorting now, and longing the way up?
+1 回复
@lzardoya, I am see related ideas :)

shark or 50. to be or not to be!
+1 回复
CajunXChange CajunXChange
@CajunXChange, reverse abcd at .7445 leaves possibility for new highs. closely watching!
LewisGlasgow CajunXChange
@CajunXChange, I'm currently shorting AUD at the moment, we'll see how this pair plays out :)
LewisGlasgow CajunXChange
@CajunXChange, yes I originally predicted a bearish cypher but the 5-0 seems plausible.
CajunXChange LewisGlasgow
@lewglasgow, definitely plausible. I posted possibility yesterday. Just reiterating fact that bullish trend hasn't broke yet and 5-0 is still valid if new highs are made targeting 2-2.24.
On the other hand, Im trying to figure out the reasoning for a cypher with ab extension greater than 1.41? Thanks for sharing
LewisGlasgow CajunXChange
@CajunXChange, I agree 100%. The cypher extension comes in around 1.3 (chart shown below).

It has fooled a lot of traders looking to short, I don't plan on being one of them so I'm sidelined until I see further confirmation of the trend breaking down.
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