191119-221119 eurgbp PROFIT

As you can see from the chart, the pattern is formed at the bottom of the fall of EURO against GBP.

As you can see from the above pattern formation, there are two patterns, one as you can see in the yellow region. Also the second pattern is formed in the blue region. The blue region pattern starts with a gap down fall. So that lends legitimacy to the blue pattern. But then again the yellow pattern is more prominent.

So as you can see, I have taken the blue pattern from the above diagram for determining the TP, but I have taken confirmation for buying, from the yellow pattern only. Therefore, the SL to TP ratio is almost 4:3, which is not ideal. Along with the unreliability of EURGBP as a trading pair, ans the secular one sided fall of EURO caused uneasiness in me. Therefore I exited the trade when it made a massive one candle up move, much before the designated TP. I realized only half the profit, which I could have got, if TP was hit.