Forex Trading 2018- TA/FA- Setups and discussion, page-4687

Sort of, more of a simultanious hedge against the previous position. a martingale is more when you double down in the same direction because you got stopped out but still maintain your bias and just want to win your loss back.. or on a seperate trade all together. I,e different pair.

mine is just another pattern that I've noticed during failed news breakouts and to cover my previous position I double the size. There's been a couple of times where my first position works out AND the failed pattern occurs so I get two trades in.. but that's very rare. Pattern traders often do the same thing - they buy a bullish break of say a wedge or box and if it fails (false break) they sell short on the break of the lower suport level.

I've moved my stop to BE now so nothing to lose. Won't be placing the covering trade because the pattern isn't there.