This last of trades "validated by H4 trending" and the longest running, is now closed. As you can see in the 2nd pic, the retrace up to the H4 Bias was rather quick, but PA stayed up and eventually head faked up thru the Bias. Even and after dropping back down thru the Bias it continued to range longer before starting the move back down to end the retrace. While a long, drawn out affair, and only sparsely populated with EPs (averaging less than 2 EPs per day, most days with none), this still has returned profit.
The downside of this "method" is excruciatingly apparent, however. Trades might not be quick and because they demand trading very light relative to account equity, the more EPs added the less remain for other trading. It can eventually cause a halt to all other trading. And the prolonged course of such a trade is an increased risk in and of itself.
This pair is currently running a Head & Shoulder pattern shown in 3rd pic. Could be good for another 50 pips, so possibly worth keeping an eye on for a new short setup.
Attached Images (click to enlarge)
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