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"post": "Hi David,\r\nYou have a point with trade setup #3 winning. According to me, the TP would be 87.80 which the market easily hit 3 bars later (12 hrs). \r\n\r\nHowever there was only a single reversal bar in the pattern and if you take such a setup once then consistency requires you take them always. I have found they often lead to failed trades. \r\n\r\nTrade #4 is also a single bar reversal and #5 is a series of inside bars, not really a reversal.\r\n\r\nIn this case you would win but over time, taking all such patterns leads to problems.\r\n\r\nThe reason to open after a reversal is that there is a sense the market has tested a price level and rejected it, for now. A single bar back is little more than noise and does not give me confidence the market has rejected anything. But the true test is to simulate a large number of these setups with single bar reversals, or inside bar patterns, and see if their wins exceed their losses.",
"html": "<p><p>Hi David,<br />You have a point with trade setup #3 winning. According to me, the TP would be 87.80 which the market easily hit 3 bars later (12 hrs). </p><br /><p>However there was only a single reversal bar in the pattern and if you take such a setup once then consistency requires you take them always. I have found they often lead to failed trades. </p><br /><p>Trade #4 is also a single bar reversal and #5 is a series of inside bars, not really a reversal.</p><br /><p>In this case you would win but over time, taking all such patterns leads to problems.</p><br /><p>The reason to open after a reversal is that there is a sense the market has tested a price level and rejected it, for now. A single bar back is little more than noise and does not give me confidence the market has rejected anything. But the true test is to simulate a large number of these setups with single bar reversals, or inside bar patterns, and see if their wins exceed their losses.</p></p>",
"userprofile": "https://pagoolabs.com/userprofiles/api/SeanManefield/?format=api",
"submit_date": "2018-01-09T12:10:36Z",
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"parent": "https://pagoolabs.com/posts/api/93/?format=api",
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