Bullish 5-0 Pattern

7.139   Bullish 5-0   52 Ticks   ZARJPY

Bullish 5-0 Pattern statistically is a countertrend pattern, so its ideal location is in a down trend near support. It signifies start of correction or trend reversal. It may also appear at the end of higher timeframe correction of up trend. In such case this pattern may mean the end of correction and start of a new trend leg.

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