This pattern would even be valid on the daily time frame. It fits my rules here on the 60 minute so I am in it here as well. Will likely be in it for significantly longer than normal. All rules met: double bottom, RSI divergergence, 61.8% retracement not hit between 5am - 9am central time. I like that the smaller 2618 formed at the 61.8% of this pattern, nice to have a little extra structure at my entry.
Comment:
1/2 of position closed at 1.13485, stops rolled past my original entry at 1.12053. Pain free.
Trade closed: target reached:
Price just reached my target (1.1410) before rolling over. Trade closed out.