This patterns is a little deformed, but X to A is a perfect .382 and A to C is a perfect 1.414
The risk is just 40 pips and D target is just under X and has not closed above which is very good. But the deformation that its has reached the .882 as you can see in the screenshot. This pattern can fail, but a graceful exit is in the tradingplan to secure my trade if it goes the wrong way.
T1
In progress
T2
In Progress
The risk is just 40 pips and D target is just under X and has not closed above which is very good. But the deformation that its has reached the .882 as you can see in the screenshot. This pattern can fail, but a graceful exit is in the tradingplan to secure my trade if it goes the wrong way.
T1
In progress
T2
In Progress
Trade closed: stop reached:
The pattern validated X leg so this is no valid pattern anymore, graceful exit executed.
