5-0 . Harmonic Pattern
The 5-0 pattern was discovered by Scott Carney
🔹It was published in his book “Harmonic Trading, Volume Two.”
It is a unique model that has accurate Fibonacci ratio corrections to validate the model.
🔹Although the 5-0 pattern is considered a reversal pattern, because the 50% retracement level is the most important in the potential reversal area.
Correction ratios are slightly different from Bat or Gartley style.
🔹The 5-0 category is in the 5-point harmonic reversal family of models
🔹It is essentially defined by a point B, as is mandatory for all harmonic patterns .
The basic premise of the pattern is to determine the reactions after completing the opposite direction
5-0 patterns usually represent the first pullback of a major trend reversal.
🔹In many cases, the AB leg of the structure is the last failed wave of the trend.