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
