The first W from last night met all the criteria except one, the reward:risk was too low, tempting but dangerous.
The next one was a horrible shape internally - no shifting of time setting seemed to give a sharp W on RSI.
The H&S on 14 min RSI was an absolute gift, only the black M is used but the symmetry of the overall shape is beautiful! There was also an M on 16 min if you prefer to stick to 15 min or above. Remember most of the system is rules, this part is a guideline.
Max. RSI is above 65.
Single move of the Price above and back below Bollinger Band.
The entry on price was so close to the top of the M, the reward:risk was fine.
For those who follow the iii board, I was already Long from 4162 (non-system trade). I used the shape to close the running trade for just less than 30. I then traded the M from afresh - there was no way I was going to get caught out two days running!
cheers theory
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