As shown on chart. Stops are ATR based and no profit targets. Stops shall be moved higher if price reverses. If not then the trade will be stopped out at the current level. Trade is invalidated if price breaks above C point before hitting D and therefore, all orders will be canceled.
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...