Timing is key

Double top trade with a nice "W" formation

FX:AUDUSD   Australian Dollar / U.S. Dollar
1233 13
Hello all,

Today I have an almost complete W formation double top trade that has the potential to go 6:1 or greater reward to risk. There would be some juicy stops sitting over 0.82144 ( previous top ) before heading back down to 0.81038 which fits in nicely to the Fibonacci 61.8% and median line targets. Lets see if I find my fill on blueberry hill:)
around 4 hours early on this one, thus target will be around the same, on to the next.
Timing is key Timing is key
Target reached pity about the stop loss, if you move the right handle of the fork to the top ( I urge everyone to do this on your own charts ) you will notice that it also hit the median line. I expect this to be a cycle bottom see attached chart. you will also notice a line originating from the 1st bottom of the W formation through 2 green nodes of both forks. You then run a line down after it hits the upper parallel which nailed the secondary trade in the below chart.

This pattern is yet to complete so it is in anticipation of price reaching the top at the left of the W formation......Hence the Double Top. I appreciate that another way to put it is that it will complete the existing double bottom formation. Tks
Project_Pat Timing is key
Love the chart, with all due respect I think that is going to bust, and rage higher. #Macro
Timing is key Project_Pat
You were 50% right:)
Project_Pat Timing is key
Dollar / Euro heading to parity
Sayed Timing is key
Dear, as technical analyst 1st thing we should remember is never assume, but still best of luck
As I was late for a cycle top, a better strategy would have been to move my entry stop up beneath each successive candle no more than 2-3 candles. Thankyou for your comments
you mean double bottom?
Double bottom followed by a double top.
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