Step 1 Identify the Phase of the Market. The reversal needs an uptrend.
Step 2 The historical precedent. An A++ Reversal is composed of 2 Rounded Tops (point A & B)
Step 3 Sell when breakout candle closes below the neckline (point C).
Step 4 Take Profit equals 2, 3 x times the distance in price as measured from the highest peak to the Neckline
Step 5 Place the protective stop loss slightly above the resistance created by the reversal
Second - Busted Pattern Strategy
Step 1 Wait until a pattern is developing on chart
Step 2 Wait for the price to break downwards and drop below point C
Step 3 Price needs to consolidate below point C
Step 4 Buy after we break and close above the C point
*Note: The clearer the breakout is the higher the probability the busted pattern will work.
Step 5 Place your protective Stop Loss below the trading range spotted earlier
Step 6 Take profits during the first 5 – 15 minutes after we break above the pattern.
Once Stop Orders above point C are hit high chance of reversal or continuation sometimes
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