Pro:
1. A Gartley (AB=CD) completion
2. Top of down trending chanel
3. Breakout area of previous Double Top formation, which has not reached a 1:1 measured move target yet
4. We have end of May
Contra:
1. The previous Double Top breakout area has been tested twice and we had a breakout to the upside. (Blue Triange)
Conclusion: This is perhaps not(!) a high probability trade,
but therefore we have a 5:1 R/R ratio.
1. A Gartley (AB=CD) completion
2. Top of down trending chanel
3. Breakout area of previous Double Top formation, which has not reached a 1:1 measured move target yet
4. We have end of May
Contra:
1. The previous Double Top breakout area has been tested twice and we had a breakout to the upside. (Blue Triange)
Conclusion: This is perhaps not(!) a high probability trade,
but therefore we have a 5:1 R/R ratio.