Win, lose or draw!
I’d be happy to take these trades EVERY TIME.
Let’s start with some much higher timeframes to give you some context.
So there is good potential for strong directional movement below prior lows.
Any break to new lows… I’ll be all over any BPB weakness.
And even better… if the market sets up right I’ll try to enter short pre-break (above the low of day) to profit as price breaks lower.
Let’s look to the Trading Timeframe chart to see what the market offered.
So we had some missed trades. Some losses. And some nice wins.
A mixed bag really!
The common theme being that they all traded either (a) a BPB entry short after break to new lows or (b) some kind of PB entry short above the low of day in anticipation of continuation through the low.
I mentioned in the title of the article that I’d take these trades EVERY time.
Why?
Context > Setups!
If you’re results are inconsistent, pause to consider whether or not you’re placing too much emphasis on setups and not enough on context.
Where your trades occur within the S/R and trend structure of the market, is of much greater importance than what kind of “pattern” triggers you into a trade.
How the market structure and price action influences the thoughts and emotions of other traders in the marketplace, is of much greater importance than how the entry sets up.
Give it some thought!
Happy trading,
Lance Beggs