On thursday A strong bullish day engulfed a previous bearish day. This set up the conditions for a ‘Uterus shaped’ chart pattern.
So far I have come across a few of these similar patterns. Past experience shows that this pattern has ability to move but it will not travel much and after a while this pattern will be failed. Shall see. keeping TP tight and monitoring.
+20 , +20 , +32
I have Taken profit once i saw i was itm. I managed to add a third pos on the ‘right shoulder’. It was good to have TP-ed as eventually price did move as per analysis.
This was a good trade in terms of theory experimentation. Uterus chart pattern has now officially been documented and I shall be on the lookout for future similar patterns.