DoubleTop pattern performance

The pattern short description can be found here: https://www.investopedia.com/terms/d/doubletop.asp

Basically, after the big move 01, we want to see consolidation 13, confirmed by the new consolidation 57. The pattern is supposed reversal, so we model trading at the identification arrow direction.

The particular identified instances follow that rationale. It has to be noted, that some of the instances are overlapping.

Now we can see the pattern performance statistics:

Actually, not that bad. We see 60% profitable trades, with the ratio of Win to Lose 7.9.
The expected return is 90 pips, having a stop at 19 pips.

The study is done on EURUSD M1 chart, with data since November 2019. Profitable results are also seen on the M5 and M15 charts.

cheers