Missed Idea shark pattern AUDJPY short setup

The same applies every time I look for entries with that shark pattern, I first look for an ABC PATTERN. Then set the fib tool to identify pull backs.. sit and wait for the market to give me a signal and take the trade.

I've passed funded accounts with this method and still doing it. i usually aim for a 1:2 or 1:8 RR it really depends

Comment:

This would have been a decent trade to take, as predicted that pop back into my D zone for more entries short based on price action.

This pair is respectful of my strategy, and that is what you want.

Comment:

when price starts to consolidate around (B) zone this could be a make or break long or short.

however in this case as (C) is take profit ill be seeking short entries risk reward 1:2/3

Comment:

well, that was a long and boring trade... but due to FOMC I would be closing positions..

Order cancelled