Historically, on this pair and this timeframe (30M), the pattern with this swing identification and with these ratios (B-point is 0.387and C-point is 0.979) has a higher probability for a continuation (down till 1.05XA) rather than for a reversal (same distance in opposite direction (up till 0.522). The exact probability numbers are 47.06% for a reversal and 52.94% for a continuation.
My personal approach is to trade this setup as a continuation. Sell order was executed at 0.786XA. Here 1.05XA is the TARGET and 0.522XA is the STOPLOSS.
This is not a trade recommendation for you. Don't trade this pattern if you didn't do the backtest of the strategy. This is simply a demonstration of my approach. Check the related educational ideas below this post to learn more about how I chose the direction of trading.
Stop spreading FUD.
What bears are you talking about? What you say has nothing to do with a 16 pips sell trade that I posted on the chart.
I was just curious if in other markets it would have the same effect or I'd just end up looking dumb. I guess second one feelsbadman.