OK, now let’s move down to the 3min YM.............
Where we had a -1R loss early in the day, then the second trade of the day (at 13:57 EST) was invalidated as the high was exceeded the new bar (so a new setups) “before” the trade entry was triggered......
Note for Advanced trader: the sell was still valid as it was still an ABC high, it was only the R/R (because of the wider bar) that removed the automatic setup. So Advanced traders could still have considered a short...... Less experienced traders could have looked at the 3min ES (next post) as the pattern was clearer....
Thanks, Steve
Where we had a -1R loss early in the day, then the second trade of the day (at 13:57 EST) was invalidated as the high was exceeded the new bar (so a new setups) “before” the trade entry was triggered......
Note for Advanced trader: the sell was still valid as it was still an ABC high, it was only the R/R (because of the wider bar) that removed the automatic setup. So Advanced traders could still have considered a short...... Less experienced traders could have looked at the 3min ES (next post) as the pattern was clearer....
Thanks, Steve
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