Usually, I would invalidate > 30% move from FB pattern if I am using monthly candles. For weekly my barometer is 15%.
In most cases, FB pattern gives a very strong breakout. In some cases annualized returns > 100 % can be expected.
Rather than keeping fixed targets for such breakouts, a 20% trailing stoploss would give a better result.
Ideal usage of FB pattern is weekly and monthly timeframes.
between 40 and 60 during the flat base and > 60 after breakout is a confirmation to the trade.
Credits of the idea - Bullkowski's book on chart patterns
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