Again by following the simple rule, you would not have taken the FBT today on Friday, since it printed an outside bar, meaning that the high and low was "outside" the previous bar which is our setup bar.....two in one week is a little strange, but define strange these days....700 down and 1100 back up with 400 down and 700 back up.....yada yada yada...
Sunday, October 19, 2008
FBT day five.......and I am glad it's FRIDAY!!!!!
Again by following the simple rule, you would not have taken the FBT today on Friday, since it printed an outside bar, meaning that the high and low was "outside" the previous bar which is our setup bar.....two in one week is a little strange, but define strange these days....700 down and 1100 back up with 400 down and 700 back up.....yada yada yada...
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It looks like, at least in this example, that if the trigger bar (bar number 2 or "B") is an outside bar, then that bar then becomes the setup bar (a new bar "A")and the trade triggers as the high or low of the outside bar is taken out. This action then determines the direction of the trade taken on the open of the fourth bar. Is worth backtesting. Anyone had any experience with this?
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