BUT... The is my all time favourite pattern to trade, my accuracy with this pattern across all financial markets is absolutely mindblowing.
Two months ago I posted a pattern on the 4h timeframe (chart is shown below), I'm using the same timeframe today and now that the move has finished I'd like to give you guys a short review of this trade from top to bottom.
I encourage you to click the play button (load new bars) on the chart.
The measurements for a valid pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
This setup offered an excellent risk to reward of 1:3.
The C point formed just below 2.24, creating an opportunity to short as it formed a valid pattern (chart is shown below).
Most patterns turn out to be 5-0's, providing a double trading opportunity like the one shown.
The outcome was absolutely perfect, the reversals were extremely precise and it's the main reason why are becoming the most popular way to trade.
I am available via private message for any questions you may have.
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