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5-0 Pattern

EURUSD 5-OHappy Friday, Troops. I haven't been active in a while- I've been working on those 5-o's. They still aren't doing anything for me, I'm a much bigger fan of the Ms and Ws, but here goes. As harmonic swing traders we look at the daily chart for direction and use the 4 hour to find a pattern that fits direction (in a nutshell)- I occasionally look at daily patterns with support and resistance from weekly charts but that's once in a blue moon. If you look at this daily chart there's a ascending wedge; within said wedge we have a 3-drive pattern. I'll be long until the 3-drive is complete. At which point, a bearish 5-o is completing on the daily chart. I'll be looking for a short signal from around 1.095(ish), and entering until the pivot point around 1.06. Again, I'm new to the whole 5-O game, it was suggested to me by a friend- lets see how this plays out!
by KyleMcQuade
1
EUR/AUD - Bearish 5-0I'm back with another 5-0 pattern but this time on the 4h timeframe with EUR/AUD. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 Price is currently forming the C leg which will complete in between 1.618 and 2.24, it will more than likely complete at 1.618 as this is a key level of support. It appears a valid head and shoulders pattern has formed and price is currently sitting on the neckline. This is an early prediction but I love to pick out market turning points :) I've got more analysis on the way, stay tuned!
Short
by LewisGlasgow
USD/CHF - Bearish 5-0Hello traders, following up from my previous post on USD/CHF with a descending channel (chart is shown below), price has now formed a perfect bearish 5-0 pattern on the 4h chart. 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 consider this pattern to be perfect as both B and C points come in a 1.618. Currently price is stalling at the top of the channel, I'm expecting a sell-off right down to support. I hope you all have an excellent week. Here's to your success!
Short
by LewisGlasgow
10
AUD/JPY - Bearish 5-0I'm back with another 5-0 pattern but this time on the 4h timeframe with AUD/JPY. Price is currently completing the C point at the minimum 1.618 but it could drop further to 2.24 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 The 5-0 structure has a perfect reciprocal AB=CD pattern within it, which completes at the 50% retracement level at D. I hope you all have a great week, don't forget to add me on social media!
Short
by LewisGlasgow
2
XAG/USD - A Short Review of the 5-0Harmonic patterns are a very precise way to trade, if executed correctly. BUT... The 5-0 is my all time favourite pattern to trade, my accuracy with this pattern across all financial markets is absolutely mindblowing. Two months ago I posted a 5-0 pattern on the 4h timeframe (chart is shown below), I'm using the same timeframe today and now that the move has finished I'd like to give you guys a short review of this trade from top to bottom. I encourage you to click the play button (load new bars) on the chart. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 This setup offered an excellent risk to reward of 1:3. The C point formed just below 2.24, creating an opportunity to short as it formed a valid bearish shark pattern (chart is shown below). Most shark patterns turn out to be 5-0's, providing a double trading opportunity like the one shown. The outcome was absolutely perfect, the reversals were extremely precise and it's the main reason why harmonic patterns are becoming the most popular way to trade. I am available via private message for any questions you may have. Don't forget to add me on social media :)
OANDA:XAGUSD
by LewisGlasgow
5
BTC/USD - Bullish 5-0Hello traders, following up from my three drives post for BTC/USD (chart is shown below), I'm now looking at a potential bullish 5-0 on the weekly timeframe. If the three drives pattern fails to complete, the bullish 5-0 will be the favoured outcome. 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 have drawn up this pattern before using a C point of 1.618, but it did not form until 2.24 and this is why I'm re-posting. Thank you all for your continued support! Feel free to connect with me below.
BITSTAMP:BTCUSDLong
by LewisGlasgow
4
USD/JPY - Bullish 5-0 patternHere we are looking at a bearish 5-0 pattern on the 4h chart with USD/JPY. As the market price has been moving down for this pair, it seems that we have reached a point of reversal. Signaled by a new higher low at B point (circled), this marks a shift in trend and also a completion of an ABCD pattern referenced in my related ideas. We can look for price to reverse all the way up to C point, then look for a reversal to complete the pattern. Risk Ratio - 3:1 The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50
Long
by cdschultheis15
Bearish 5-0 USDJPYAfter hitting resistance at 118.6, price has been in a downwards trend. Admittedly I have recently been looking for setups that support a bullish dollar and retest resistance at this level. This has not happened and I have decided to look at the potential set up that continues the weakening of the dollar and this trend's downtrend since the beginning of the year. Price bounced off support at 112 twice and has now broken through. Sticking to my preference of harmonic patterns, the 5-0 pattern suggests that price will reach the 161.8% extension of wave AB (2/3), and retrace 50% of the BC wave (3/4) before price continues in the downwards direction. a 50% retracement at this level would fit the bill as previous support would then becoming resistance. The 5-0 ratios identify the BC wave as an extension that should turn between 161.8% and 224%. If price edges past 224% then the pattern is not valid. If price turns after the 161.8% but still before the 224%, then the 50% retracement at which we enter should be adjusted accordingly. Good luck! 5-O Ratios B(3):1.13-1.618 C(4):1.618-2.24 D(5):50%
Short
by KyleMcQuade
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
Short
by cdschultheis15
USD/JPY - Bearish 5-0Wow this is huge! Today we have USD/JPY on the 1h chart with a perfect bearish 5-0 pattern, I'm absolutely loving the look of this setup already! 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 consider this pattern to be perfect as both B and C points come in a 1.618. I'll be trading this pattern in a different way than normal, due to the dollar gaining strength this week I'll be going long from C to D before going short. A valid inverted head and shoulders pattern has formed on the 15m chart which would be an excellent entry point (chart shown below). To add to the bearish 5-0, price has formed a valid reciprocal AB=CD pattern which completes at the D point (chart shown below). I hope you all have an excellent week. Here's to your success!
by LewisGlasgow
6