Measured Move Up   

Prices move up (first leg), retrace (corrective phase), and then move up again (second leg). Prices often follow a trend channel upward before entering the corrective phase.

 
Example
 
graphic
 
Statistics
Percent of successful formations – 69%
Failure rate – 23%
Average time to throwback completion – 4 hrs
 
Trading tactics
Calculate the height of the first leg from highest high to lowest low. Add the difference to the lowest low in the correct phase. The result is the expected price move.