by eric-pal » Fri Aug 11, 2023 8:56 pm
The way which was traded was as a trap and the stop should have been to the beginning of the leg down and not where it was placed. All trades need to be managed with the same risk so that all trades, regardless of signal bar size, are managed the same. Thus a trade is simply a trade.
Please note that you should have been expecting another leg up based on the 6 consecutive bull bars.
Kudos as the downward direction was still the higher probability trade, it simply was early based on how prices were moving (at least statically).
Hopefully helpful and good trades to you!
The way which was traded was as a trap and the stop should have been to the beginning of the leg down and not where it was placed. All trades need to be managed with the same risk so that all trades, regardless of signal bar size, are managed the same. Thus a trade is simply a trade.
Please note that you should have been expecting another leg up based on the 6 consecutive bull bars.
Kudos as the downward direction was still the higher probability trade, it simply was early based on how prices were moving (at least statically).
Hopefully helpful and good trades to you!