EURJPY H1 Bearish 5-0

22 Jun 2011

Bearish 5-0 Pattern On EURJPY Hourly Chart.

This pattern is continuation of bullish BAMM in the previous post. B point at 1.13 retracement of XA validate this pattern.

This Bearish 5-0 pattern completion projection is define by a convergence of 0.50 retracement of BC and reciprocal AB=CD at 115.70.

Trade Details :
Entry : 115.70
SL     : 116.10 (40 pips)
TP 1  : 114.90 (80 pips)
TP 2  : 114.40 (130 pips)




23 Jun 2011

Exit 2/3 position at 114.95 with 75 pip profit.

 Exit all position at 114.68 with 102 pips profit.

Total : 177 pips profit.

Read more »

Posted in: 5-0,Bearish,EURJPY

EURUSD Bullish 5-0

13 Jun 2011

Bullish 5-0 pattern is formed on EURUSD H1 chart.
This pattern possessed an ideal bullish 5-0 pattern.

As seen on chart B point is at 1.27XA retracement.The important key in a valid 5-0 pattern is a C point.C point must be greater than 1.618AB but must not exceed 2.24AB retracement.



On this setup C point is just below 2.00AB retracement which provide a validity of this pattern.

PRZ Zone in 5-0 pattern is define by 0.50BC retracement at the D point.Reciprocal AB=CD will complement this area.

On this setup D point of 0.50BC retracement is at 1.4330 and reciprocal AB=CD at 1.4320. The tight range of this two important level gives nice opportunity to go long on price action test the 1.4320 area.




14 Jun 2011

Exit all position at 1.4480. Total profit for this trade 210 pip.

Read more »

Posted in: 5-0,Bullish,EURUSD