EUR/CAD - Bullish 5-0

24 เม.ย. 2017

I'm back with another 5-0 pattern but this time on the 1h timeframe with EUR/CAD.

Price is currently completing the C point in between 1.618 and 2.24, it may alter the PRZ depending on where it completes.

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 expect price to fill the 200+ pip gap and stall out at the 50% retracement level as this has proven to be a key level in the market, once this happens I will be looking to go long.

Feel free to connect with me on social media :)