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4 general rules are causing missed trades
*TTR do not trade
*LOM do not trade
*TR BLSH / do not SLBH
*Tails - sell under bar closing on low / buy above bar closing on high
any advice thanks
To answer your main question it may help to first discuss why the following rules are there. Please fill in the blanks:
1) TTR do not trade
Reason: __________________
2) LOM do not trade
Reason: __________________
3) TR BLSH / do not SLBH
Reason: __________________
4) Tails - sell under bar closing on low / buy above bar closing on high
Reason: __________________
Hoping to hear soon!
CH
____________________________________
BPA Telegram Chat
1. Do not trade TTRs because there's no space. Also, TRs in general have lots of setups in both directions, and lots of traps. In the example, B25 could possibly break below the TTR, but also still in the buy zone of B21, possible trap.
2. Do not trade LOM because stop orders do not work. Machines are buying below and selling above, scaling in higher/lower, creating large tails. In the example, B25 closed on low, so maybe it's a stop entry to break below the LOM TTR buy zone & support. Also a possible trap.
3. TR BLSH because that's the zone that traders are creating by buying above and selling below. Also there's magnets which make vacuum tests / 2nd leg traps, sharp moves that dead end. Traps look really good, so you never know.
4. Tails = FBO. Stop order traders should buy above a bull bar closing on it's high/ sell below a bear bar closing on it's low. Selling below a bear bar with a tail on the bottom means selling into a buy zone.
In the example, a sell below B10 made points, and a sell below B25 made a lot of points (not shown). But if you start breaking the rules mentioned above, you lose a lot of points.
adding Bad signal bars and Outside signal bars to that list