Taking a retest of a TL by fading the 169 on the M1 or M3 was a losing trade today – even when supported the short-term PA sequence (i.e. going long after HHs and HLs). I wonder if this is just not a good setup to take or whether today was unusual?
It is possible that in this PA context – a strong maj. downtrend – going long after the 3Min Bolli has signaled a rejection of higher levels is a weak setup to be avoided.
