Mm on 14 min - reward:risk was 1.5:1

The shape was there on the 17 min. but not as good in terms of internal gaps on RSI, so I used the 14 min. one. The windows have been adjusted to the same size for ease of use on this blog.



The long left leg of the M is purely there to define the context I am seeing it in i.e. the possible end of a long running uptrend - it does not affect the Pt1, 2 etc...

Entry was at 58.9 on RSI, Price equiv 4471/0.

The middle Bollinger line was close BUT the risk, to the top of the shape, was very small. Reward:ratio was just above the modified value of 1.5:1.

No problems with the rest of the filters, go for it.

The predicted problem occured, it got through the middle Bollinger and then came back before I could take 20 with half, so I was forced to take 15.

The rest was run from 10 above B/E, which was the top of the shape.

I now had a situation where I was "being paid to trade", the worst outcome was 0.5(15-10) for a 2.5 profit.

The extra little m (last bit of the original blck one + the extra bit in red ) appeared, usually a bearish sign, very encouraging BUT it didn't turn out that way. The trade was still running though when I shut down the platform.

cheers theory