Hi Everybody,
Today I would like to remind you all of the History triangles. In particular how we can get a history triangle and it does not necessarily mean a -1R loss. The 3min YM on Friday was a very good example of this.
Using MTP v6.5 we had two history triangle before a TS3 sell towards the end of the day. Please see the chart. BUT (and this is the important part), the “first” short trade ( at 14:30EST) was NOT stopped out. So this triangle, and indeed, the next one were NOT losses.
The reason this happens is that the market made a “triple top”. When we get equal highs or lows the code can put up a history triangle, even though the stop trigger was not hit. This is covered in the help video (http://www.mtpredictor.com/help/videos/65-history2/65-history2.html ) where I always say to place the analysis n any History signals and see how they would have worked out. Don’t just assume that each triangle is a -1R loss, because that is not how the code works
Thanks, Steve
Today I would like to remind you all of the History triangles. In particular how we can get a history triangle and it does not necessarily mean a -1R loss. The 3min YM on Friday was a very good example of this.
Using MTP v6.5 we had two history triangle before a TS3 sell towards the end of the day. Please see the chart. BUT (and this is the important part), the “first” short trade ( at 14:30EST) was NOT stopped out. So this triangle, and indeed, the next one were NOT losses.
The reason this happens is that the market made a “triple top”. When we get equal highs or lows the code can put up a history triangle, even though the stop trigger was not hit. This is covered in the help video (http://www.mtpredictor.com/help/videos/65-history2/65-history2.html ) where I always say to place the analysis n any History signals and see how they would have worked out. Don’t just assume that each triangle is a -1R loss, because that is not how the code works
Thanks, Steve
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