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Thread: M and V patterns

  1. #1
    Senior Member fxtester's Avatar
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    Default M and V patterns

    I have observed something interesting on EU H1.

    Patterns which appears more on 2014 comparing to 2013. They are M and V patterns. They are only on consolidation period (straight charts), not on trends. They are such patterns on trends, but I would not know how to trade them.

    Here is a V pattern. We have a first leg, when it begins to retrace, we put a sell limit at 80% of the first leg, with a Target at 50% of a new retrace over the second leg, a Stop 15 pips over the pattern.

    M and V patterns-v-patterns-gif

    There is another one the next day.

    A reversed M pattern :

    M and V patterns-m-patterns-gif

    Another one :

    M and V patterns-m-patterns-2-gif

    There is a pattern, that we could call the Castle pattern (it is the famous left shoulder, head, and right shoulder) :

    M and V patterns-castle-1-gif

    M and V patterns-castle-2-gif

    Sometimes, the pattern is gigantic, and it can take few days to reach the target.

    And few times, the Stop is touched.
    Last edited by fxtester; 08-16-2014 at 09:54.

  2. #2
    Senior Member fxtester's Avatar
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    We have got a ton of them these few days, look at this chart :

    M and V patterns-current-gif
    Last edited by fxtester; 08-16-2014 at 09:54.

  3. #3
    Senior Member fxtester's Avatar
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    Default

    I have made an EA based on it, it is called ZigZag Retrace EA in the Elite section.

    2014 results.

    M and V patterns-strategytester-zigzag-retrace-ea-eu-h1-gif

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elite, how to, limit, pattern, pips, stop

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