Only post pattern aspects if they consistently appear on the EUR/USD chart.
Let me, as pioneer, step forward and explain which consistent patterns I have found:
– Small M, big M, small M, big M, small M, big M (see printscreen)
– In the H1 chart they are most clear
– Scroll to a period in the chart where the M is wide (L) and high (A) in length, then you will be able to see the pattern perfectly, completely. Use this detailed pattern as an example for all other M patterns.
– The H4 chart is not comparable with M patterns in the H1 chart, same with monthly vs daily chart.
– Said M patterns are similar if you compare M’s that are both in an uptrend (or both in a ranged market) of the same degree, amplitude (in price), length (in time) and volatility.
– also, maybe not scientifically proven, though, in my opinion the degree, amplitude and length (DAL) will always differ and as such, in my opinion, not be consistently tradeable (curve-fitting aside) by using MT4 standard indicators. But, I do think EUR/USD is tradeable if you look at the pattern (instead of D-A-L).
Would you like to share your vision on it? I hope for an intellectual discussion.