DON’T FORGET that is a game of probabilities.
The targets of this Formation that I usually use;
0.50 Fib (TARGET1) and 1.00 Fib (TARGET2) levels.
You can use; Your Own Targets, entry point, stop-loss level and cancellation level.
These Formations achieve different success rates on each chart and in each period of it.
If the price goes to its target, Pattern will be successful.
doesn’t deal with absolutes. It deals with probabilities. This means that whatever technical approach you’re basing your strategies on, there’s never a guarantee that the market will behave as you expect. Maybe your analysis suggests that there’s a very high probability of the market moving up or down, but that’s still not a certainty.
You need to take this into account when you’re setting up your trading strategies. No matter how experienced you are, it’s never a great idea to think the market will follow your analysis. If you do that, you’re prone to oversizing and betting too big on one outcome, risking a big financial loss.