I am super excited about this set up!
Today, we have a and a on the 4H chart with NZD/USD .
Sharks and 5-0s compliment each other, given the similar Fibonacci measurements.
The is already completed and running in profit. We can look to sell this one down to the to about the 0.6900 level.
That will then complete the D point on the . We can close out our short position and open a buy order.
REMEMBER: Set your STOP LOSS accordingly. DO NOT risk more than 1-2% of your account.
Set up like this are HUGE on growing your account and profiting on both ends.
Risk/Reward Ratio - 1:4
The measurements for a valid are detailed below.
C: 1.13 - 1.618
D: 1.618 - 2.24
Final X to D: 0.886 - 1.13
Risk/Reward Ratio - 1:3.55
The measurements for a valid pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24