The Bearish M chart pattern was found on a Bullish Market for AJ on the Daily Timeframe.
Comment:
This chart pattern can be found after a consolidation phase occurs. If you had waited for the pullback for the price to tap the 78.60% key fib level to the T, after waiting for the last leg to finish, while connecting with the T.L...
You would have achieved both TP1 AND TP2.
Entry: 77.929 (executing on the 4H)
SL: 77.679 (25 pips)
TP1: 79.905 (199.5 pips) R/R: 1:7.98
TP2: 80.698 (276.9 pips) R/R: 1:11.08
or if long entry was executed on the Daily Timeframe
Entry: 77.929
TP1: 79,905 (197.6 pips) R/R: 1:7.9
SL: 77.679 (25 pips)
TP 2: 80.664 (273.5 pips) R/R: 1:10.95
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You would have achieved both TP1 AND TP2.
Entry: 77.929 (executing on the 4H)
SL: 77.679 (25 pips)
TP1: 79.905 (199.5 pips) R/R: 1:7.98
TP2: 80.698 (276.9 pips) R/R: 1:11.08
or if long entry was executed on the Daily Timeframe
Entry: 77.929
TP1: 79,905 (197.6 pips) R/R: 1:7.9
SL: 77.679 (25 pips)
TP 2: 80.664 (273.5 pips) R/R: 1:10.95