Candlestick Breakout

I am trading two bar candlestick patterns using fibs to find targets and Breakouts for entry on 4hour and Daily Charts.

I will SELL:

1. If there is a bearish candlestick pattern (two bars, 1st Blue, 2nd Red)
2. First if price stalls below the 62% or 38%
3. Second if If the lower low is broken
4. Third on close below the 138%

I will fib the higher high and lower low and set my tp at the 327% AND my stop at 10 pips below 0%

I will BUY:

1. If there is a bullish candlestick pattern (two bars, 1st Red, 2nd Blue)
2. First if price stalls above the 62% or 38%
3. Second if If the higher high is broken
4. Third on close above the 138%

I will fib the higher high and lower low and set my tp at the 327% AND my stop at 10 pips above 0%

The 327% will be considered my ultimate target and I will trade all setups that trigger on the way to the target until its hit or until there is stalling at 138% or 227%.

NOTE: Entries will mainly be via buy or sell stops. If my stop will exceed 150pips I will wait for a pullback or pass up the trade.

Trade #1

Long NZDUSD Daily bullish candlestick pattern. The high (100%) was already broken so I am long again on the pullback anticipating continuation to the ultimate target.

Trade #2

Long AUDJPY daily bullish candlestick pattern. High (100%) has already been broken, so long on the pullback.

Trade #3

Long EURJPY 4hour Bullish candlestick pattern.

Trade #4

Long AUDUSD daily bullish candlestick pattern.

Closed all previous trades when bearish patterns triggered.

Short nzdjpy 4hour bearish candlestick pattern.

RuAc, Do you have any Charted Results you could share with us ?
Interesting Approach

Short nzdusd 4hour bearish candlestick pattern.

Hi Craig,

The only I have is this short on the EURJPY from yesterday. I have just started trading this strategy live.

Short audjpy 4hour bearish candlestick pattern.

Second entry...