HI, Sorry i am newby, even this Cypher Patterns are new to me. Last Friday we had a Fundamental analysis with great impact on the USD, Working the technical analysis above the fundamental issues can that be good, or it doesn't matter?
I made my analisys bases on 4H chart and it looks like we are in a uptrend until 1.14663. But has i said i am new and i don't have a clue if i am right or not.
Dear friend , for patterns you should have a confirmation first else you can't be sure about them,... the confirm can be broken trend line or breakouts.That is the reason that the pattern didn't work here: You had no confirmation.
I think there are as many trading rules as there are traders. My trading plan, and what I have back tested does not require anything else but a completed pattern. I do not concern myself with the probability that a pattern is formed or not, merely the probability of the outcome once IT IS formed.
Thanks for your comments, have a great day.