Always looking for a pattern, mainly to define risk and to anticipate a Take Profit Target.
If you got stuck in a short due to a breakout and then we see a deep retrace. We could be looking for the classic AB=CD pattern.
I always trade a RRR of 1:2 , so this AB=CD would not meet my TP target.
If you got stuck in a short due to a breakout and then we see a deep retrace. We could be looking for the classic AB=CD pattern.
I always trade a RRR of 1:2 , so this AB=CD would not meet my TP target.
Note
AB=CD target reachedTrade closed: target reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.