Carrying on from the last post, ironically the clearest “ABC” patterns were in the two sells that were against the larger degree trend yesterday....
This is where the more Advanced Traders could have considered these short trade, BUT (and I always say this), if you are unsure of the trend, or you are against the larger degree trend, you must always protect yourself quicker by using the 100% initial risk guideline.
This would have resulted in a break-even, then a +2.4R Profit (ignoring slippage and commission) for the more Advanced Traders among you yesterday......
Thanks, Steve
This is where the more Advanced Traders could have considered these short trade, BUT (and I always say this), if you are unsure of the trend, or you are against the larger degree trend, you must always protect yourself quicker by using the 100% initial risk guideline.
This would have resulted in a break-even, then a +2.4R Profit (ignoring slippage and commission) for the more Advanced Traders among you yesterday......
Thanks, Steve
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