AUDUSD - HANG6 Structure Trade

FX:AUDUSD   Australian Dollar / U.S. Dollar
Hope everyone had an enjoyable weekend.

Working on a backtesting strategy recently that has proven to have a favorable expectancy. I named it Hang 6 but its basically a structure trading strategy that employs a minium Combined Technical Score ( CTS             ) of 6. Will be watching this as it progresses but heres what I am currently looking at:

- Minor structure area (within major structure area on higher time frame) = 1 point
- Fib confluence = 2 points
- AB=CD Pattern = 1 Point

That renders a CTS             of 4 but theres a likelihood that if price action (PA) moves into the area that:

- RSI divergance = 2 points
- RSI overbought (I define as 75+) = 1 point

Giving me permission for a short entry. I am placing my stops @ 127% Fib extension of 161% Fib of AB w/in AB=CD as per my plan albeit I have them at the 141% extention of the AB=CD pattern on the chart but will be subject to when (or if) PA renders the aforementioned RSI reading.

I have my first price target (1/2 position) at 61% fib retracement of the move into the zone. If we get there, I move stops to break even and shoot for 161% extention of that PA.
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