Lemercenaire, sure, in time I'm going to widen the criteria a bit, for example, 3 bears or 3 bulls also seems to work well. I'm wondering if the relationship of the 3rd bar's close to the previous bar has any baring on the validity of the setup...
Regarding TP options, another is to exit the trade upon the close of the trigger bar. Or some kind of pre-defined amount such as 10 pips, or an ATR(50) multiple....
In time I'd like to check how the results on 1hr stack up, whether overall it's a better win/loss rate vs amount of trades occurring. Also thinking not to take any trade if any of the bars in the pattern have gapped.
Regarding TP options, another is to exit the trade upon the close of the trigger bar. Or some kind of pre-defined amount such as 10 pips, or an ATR(50) multiple....
In time I'd like to check how the results on 1hr stack up, whether overall it's a better win/loss rate vs amount of trades occurring. Also thinking not to take any trade if any of the bars in the pattern have gapped.