The first bar today, popped off a short and it wouldn't have matter what you did with the idea that I have shown...it was a loser...plain and simple. Some might not believe this but there are loser once in a while. One time when I was posting about the first bar trade a fellow (olemikey) said he used the first three bar instead of wasting his time on the just the first one...to much noise he said. Well, that is fine, doesn't matter how "YOU" try to skin the cat to me. So I did a back study on the first bar and using the third bar. The biggest thing I found was that the third bar was great if you took a trade from the first bar and got stopped out....with a front end product..you can reverse on a dime. Today, was a first bar loser but a third bar reversal winner and have waiting for the fourth idea in this trade idea for setups and management.
Once we reversed, again using the stoch when it went to overbought and then waited for the low of the last bar to be taken out on the 70 tick chart to take some profit.....moved to BE. By lunch time we had our money back and some dessert cash......I like dessert you know.
So idea number four......what if you used the breakout of the third bar to reverse a losing first bar trade.....what if??????
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