BNBR potentially to perform a bullish 5-0 Pattern. The 5-0 pattern outlined by Scott M. Carney in his book Harmonic Trading of the Financial Markets: Volume Two published in 2005. The 5-0 Pattern is a unique structure that possesses a precise alignment of Fibonacci ratios to validate the pattern.
Basic 5-0 pattern requirement : - The B Point requires at least 1.13 retracement of XA length and cannot exceed 1.618. - The BC leg is the longest price length of the structure and must be at least a 1.618 extension of the AB length but it must not exceed 2.24. This tight range of 1.618-2.24 is a defining element of the structure. If the 1.618 minimum limit is not reached, the structure is not a valid 5-0. - After the BC leg has reversed from that zone, the 50% retracement is measured from the B point to the C point. - In addition, the Reciprocal AB=CD is projected from the C point (an equivalent length of the AB leg) to compliment the Potential Reversal Zone (PRZ). The following illustration will clearly explain these concepts. (see attached files) or follow this link : http://boy-izar.blogspot.com/ Best Regards, Boy YR
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