If price heads north we are gonna sell it at the blue at a lesser, but still good reistance area, but compared to the this pattern got a lot higher R:R so its well worth it.
We always try to be one step ahead of the market, and put in orders when we don´t have any emotions aboute it. We use the IF THEN method to see, if this happens, we do that, and if it does this in stead, we do this in stead. We are planning for several senarios while we don´t have our emotions haning on the outside of our cloth and then we just stick with our analysis cause we know its tested and profitable so we just have to control out emotions, and focus on money management!
A subject i see more and more here on TradingView not beeing giving much of a thought, but its almost more important than your trading method if you want to see the returns you are dreaming about. How come some people that have the same size account, makes the same amount of pips make a totaly different return on account. It´s MONEY MANAGEMENT the art of when to increase or decreace your position size! So please spend some of your weekend reading on Fixed Ratio money management vs. Smoothed Ratio money management, you will be amazed!
I´ve got a starting point for you read the book by "Ryan Jones - The Trading Game Playing By The Numbers To Make Millions" It will change your trading career!
BTW, I posted an analysis on EURUSD that also uses the 2 patterns you posted about. It's more a LONG TERM plan though with a short term play on these patterns.
And yes Money management is the holy grail, the one using the standart 2% method earning 20% a year could be earning 120% a year on capital with the same pips, its the art of when to reduce and increase lot sizes. Its very important specially for traders with small accounts that wants to see a return