ollyt33
Short

EURUSD Short

FX:EURUSD   Euro / U.S. Dollar
Unified Formation setting up here. Wait for the entry between D point completion and pattern invalidation level. This is an A* trade for me - meaning I will be taking 2% risk.

Based on my backtesting (2005-2018) this pattern has an average of:

- 61% Win Rate
- 1.35 R:R
- 3.15 Profit Factor (Risk $1 to get back $3.15)
- 10.9 Recovery Factor (Draw downs are recovered 10.9x faster than they occur)
Comment:
Comment: Just had an entry reason based on the TradingView FXCM quotes however, my broker's quotes did not quite give me the entry reason therefore, I'm still waiting to enter this trade
Comment:
Comment: Trade entered on the bearish engulfing candle. Notice the MACD & Stoch crossovers & RSI dipping out of overbought

Comment: SL at 1.14978
Comment: Came very close to .382 first targets but were not hit, therefore the original trade is still running (stops have not been moved to break even yet)

Potential 2618 pattern setting up now on 15m:
- double top formed (depending on how you define a DT)
- neckline broken and a support level has been identified
- pullback up into .618 retracement from the double top down to support
- expecting price to move lower????

Comment: First target hit - Stops now at break even

See picture for new analysis. The 2618 pattern has played out and now expecting a re-test of support turned resistance before a move lower

Trade closed: stop reached: Break even
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