Forum on trading, automated trading systems and testing trading strategies
Market Condition Evaluation based on standard indicators in Metatrader 5
Sergey Golubev, 2013.01.31 16:30
Why false breakout? Look at the image (this is Merrill's patterns for downtrend):
and look at GBPUSD M1 chart for now:
So, the pattern on GBPUSD chart is same as M3 Merrill, right? And the evolution of this M3 pattern was on the following way: M8 - M4 - M3. That is why it was false breakout.
Sergey Golubev, 2013.01.31 16:51
Merrill's patterns for uptrend:
and it looks like W10 with evolution as W4 - W5 - W10:
Best method to identify trend in forex
Sergey Golubev, 2018.06.29 08:09
I placed those pictures/illustration about patterns just to keep everything in one place.
Just an example with gartley bullish (the developing pattern):