Well, a bunch of advanced formations on my radar today. You can always find the rules of engagement for these remarkable patterns on my website. The link is in the signature section below this description.
Hi Alexander. Do you adjust your targets after price trades past the entry point? For example in this UJ cypher case, the 38.2 target would be much higher by now. I would like to hear your thoughts. Cheers, Pat
Alexander_Nikitin
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@PHL, I only adjust the targets when I am counter trend. When I am trend following I usually extend them:)
@Alexander_Nikitin, i cannot agree with that ;) Markets trend up, down or they are in consolidation where they just bounce around in a zone before establishing a new trend (that's when advanced patterns work the best)
Alexander_Nikitin
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@PHL, It all depends on the timframe you are looking at. Markets are ALWAYS trending. If it looks like sidways movement on Daily it is an uptrend on 1H.