The M and W pattern is derived from the concept of Support and Resistance; and Harmonic Patterns in a Ranging market.
Practical Exercise
1) Identify a corrective move that look like a M or W Pattern, it can be any currency pair, any timeframe.
2) Using Fib retracement, measure the M/W Pattern.
3) Record down where does this M/W Pattern completes.
4) Identify the Entry Price, Stop Loss and Profit Target areas.
5) Also, record down how price moved after the completion of the M or W Pattern, and how far it travelled.
6) Post your exercise on the comment section in this thread.
7) Repeat this practice to gather a total of 10 examples.
Practical Exercise
1) Identify a corrective move that look like a M or W Pattern, it can be any currency pair, any timeframe.
2) Using Fib retracement, measure the M/W Pattern.
3) Record down where does this M/W Pattern completes.
4) Identify the Entry Price, Stop Loss and Profit Target areas.
5) Also, record down how price moved after the completion of the M or W Pattern, and how far it travelled.
6) Post your exercise on the comment section in this thread.
7) Repeat this practice to gather a total of 10 examples.
