Having only been with TradingView for a few days, I thought to post it to show an example of how to trade this particular pattern.
To start with, we can see the of the XA impulse leg. It actually hit 0.616, but I am no going to quibble about 0.002%.
The next thing to check is the retracement of AB. On this occasion, it was a retracement of 0.87. For me, this meant what is called an Aggressive C Entry. This entails riding the C leg all the way down to the D completion. It only occurs when the AB retracement occurs in the zone between the 0.886 and 0.786 of AB.
To trade a this way, a Limit Order is placed at the of AB. The stop need only be 1 pip beyond the A point (105.35), as if this occurs, the is nullified anyway.
Targets for this Aggressive C Entry are as follows:
T1 at the B point (86.23)
T2 at the D completion point (81.03)
This type of trading of a is not for everyone, but is is how I trade them.
To the itself, we are now waiting for the pair to fall to the reversal zone marked. I have plotted it using the of the initial XA impulse leg as well a of the AB leg. Additional confluence can be found plotting an extension of the BC leg. You can see a 1.272 and 1.414 extension there. It could certainly be extended further to incorporate the of the XA impulse leg, but it is a guide only. The Limit order is placed at the 0.786 anyway. This is just giving you a probable zone in which the pair may reverse.
The stop would be placed beyond the X impulse leg and depends on how you like to set stops. An ATR stop would be fine, though I tend to plot a 1.13 extension of the XA leg.
So, the trade would look as follows:
Limit Order placed at 81.08
Stop placed at 70.42
T1 is at 90.38 (Stop moved to breakeven)
T2 is at 96.12
Risk: Reward on this one is slightly less than 1:1 at about 0.87:1 If this does not fit within your trading plan, then you will need to determine if this trade is for you.
Once again, the pattern may never complete, but if it does, a well placed Limit order may see you collect a few pips.