M pattern strategy

I remember that this system is an old system that has been shared and is quite simple using a line chart

The M pattern is a bearish chart pattern used in forex trading that signals a potential trend reversal. It forms when the price of an asset creates two peaks at a similar level, followed by a breakout below a support level. Traders use this pattern to identify potential selling opportunities and set their entry and exit points accordingly. The M pattern strategy involves placing a stop loss above the highest point of the M formation and setting a profit target based on the distance between the pattern's neckline and the M's peaks. As with any trading strategy, proper risk management is crucial to success. Traders should also consider other technical indicators and market conditions before entering a trade.