DislikedLet test my understanding with Aussie as well. No trade because of trend-line break before price failure?Ignored
Thanks for your interest. Some day I hope to have your experience and expertise as a trader. You see I have taken a look at your thread.
The case of the Aussie is the second case of the 123-pattern in post 6. If the price failure occurs after the trend line break the trade become a classic 123-pattern. That is, entry is made after the aspect no.2 gives way.
If however price has gone too far from the trend line I may not take the trade.
A similar situation holds for the cable trade, although it seemed to be triggered much later that the EURO.
As for my intelligent money benefit comment, I was trying to make the point clear that I am trading with the large "money" guys that drives the market. That is, I am trading the same exact reversal patterns. Only now my belief system helps me to trade it freely and without reservation.