For this pattern there are two possible potential reversal zones.
If the D-point is 88.6% of XA then stop goes past X. Either 113% of XA extension, or 1 ATR beyond X. Some some traders use 10 pips past X level. If the D-point is 113% of XA then stop goes past 127.2% of XA. It can be 1 ATR past 127.2% or simply 141.4% level.
Target 1: 38.2% retracement of AD leg.
Target 2: 61.8% retracements of AD leg.
If the D-point is 88.6% of XA then stop goes past X. Either 113% of XA extension, or 1 ATR beyond X. Some some traders use 10 pips past X level. If the D-point is 113% of XA then stop goes past 127.2% of XA. It can be 1 ATR past 127.2% or simply 141.4% level.
Target 1: 38.2% retracement of AD leg.
Target 2: 61.8% retracements of AD leg.
Feragatname
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