USD/ZAR - Bullish 5-0 + Trend Channel Breakout
Here, we have the USD/ZAR on the 4H chart.
The bullish 5-0 pattern has completed, and now we are just waiting for reversal to take place.
The breakout of the current trend channel is further confirmation for the price reversal, along with the 5-0 pattern completing right on top of the trend line.
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 bullish 5-0 pattern has completed, and now we are just waiting for reversal to take place.
The breakout of the current trend channel is further confirmation for the price reversal, along with the 5-0 pattern completing right on top of the trend line.
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.