311019-051119 audusd NOPRONOLO

PREVIOUS TREND

If we check out the previous trend, we can see that I took two consecutive trends as a complete trend. I should have taken the second trend, as shown in the next image as the previous trend to analyse the pattern

THE PATTERN IN THE PREVIOUS TREND

The second trend as discussed above is shown here. This is the previous trend that should have been considered. Here also the pattern formed is about 25% of the previous trend. This is not at all ideal.

ENTRY FLAW

As you can see, the entry is done without the important confirmation of the pattern completion. As you can see, there isn't any congestion in the 100% area, which is one of the most important requirement of entry. The upmove is broken by a single reversal candle, which broke much below the 100% mark. I was fortunate enough to get out of the trade with minor profit.