OK, that was a very bad trade. And I am still 100% Short. What went wrong? I had a Hold Short on a "Scanman R-3" which over-rode a go LONG pattern at 4:00PM Tuesday. An R-3 will usually trigger a Short in one to three days. Wednesday is the Third Day. So, why hold Short all three Days? Hmmmmm? Going to review that so-called "theory". The Scanman R-3 is HIGH RISK if it doesn't occur until Day 3 when Day #1 and/or #2 are UP! I don't want High Risk trades but yet I took one. Doooh!
So, where are we at now? Sell all Longs at 4:00PM today, if you were smart enough to go Long at 4:00PM yesterday or Long at 10:30AM this morning, and build a new Short Position. I am already 100% Short.
The "Scanman R-3 Hold Short" will be lifted tomorrow regardless of the out-come and possibly forever since my pattern matching may already play it correctly without the "Hold Short".
Wednesday is a Short on the Pattern and Day 3 of a Scanman R-3. So, I believe Wednesday is Low Risk Short.
Good Trades to All!
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