Here, we have a bullish 5-0 on the 4H chart with GBP/CAD.
Price is making a steep break to C point (1.79623) measuring in at 1.618.
Following C point, we can look for a 50% retracement at D point (1.68521).
Risk/Reward Ratio - 1:3
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 making a steep break to C point (1.79623) measuring in at 1.618.
Following C point, we can look for a 50% retracement at D point (1.68521).
Risk/Reward Ratio - 1:3
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
