Daily Bias, Backtesting and a Loss Recap

Daily Bias, Backtesting and a Loss RecapLesson 12 of 136 min read

What was on the screen

The three faults in that entry, every one of them visible before the order was sent, and the one reason that is not on the list.

The entry had three problems. All three were on the screen before the click.

The sweep was on the wrong chart

The sweep of 2,419 and the break at 2,422 were both 15 minute events. The 1 hour had swept nothing and broken nothing.

Module 38 already named this: a 15 minute sweep produces a 15 minute invalidation, and 15 minute movement reaches that price several times a session.

A sweep and a break on the same small chart is a small reason, not a confluence.

Price was not at a marked level

The morning line said buys at 2,418 or lower. The entry was taken at 2,425.

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