Hi Everybody,
Today I would like to look at setups to avoid because they don’t “look right”. Yes we have the “symmetry” Filters in the software, but I know that most of you (including me) run with these “off”, so we do need to filter out any setups that look too unsymmetrical, for example the TS3 buy in the afternoon on the 3min YM yesterday.
What do I mean by unsymmetrical ? Well, I don’t like abc patterns where the wave b (in particular) is very very short in time when compared to the Wave a and b. Also a very long Wave a in time when compared to Wave c does not “good look” either.
Also, the trigger bar was 5 bars after the turn. I have mentioned before that I like trades to be filled on the bar or bar +1 after the turn, so 5 bars after is a bit late.
Combine this with the horrible symmetry and that is why this TS4 buy was one to be avoided as it did not “look good”.
Thanks, Steve
Today I would like to look at setups to avoid because they don’t “look right”. Yes we have the “symmetry” Filters in the software, but I know that most of you (including me) run with these “off”, so we do need to filter out any setups that look too unsymmetrical, for example the TS3 buy in the afternoon on the 3min YM yesterday.
What do I mean by unsymmetrical ? Well, I don’t like abc patterns where the wave b (in particular) is very very short in time when compared to the Wave a and b. Also a very long Wave a in time when compared to Wave c does not “good look” either.
Also, the trigger bar was 5 bars after the turn. I have mentioned before that I like trades to be filled on the bar or bar +1 after the turn, so 5 bars after is a bit late.
Combine this with the horrible symmetry and that is why this TS4 buy was one to be avoided as it did not “look good”.
Thanks, Steve
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