One such Setup 1 signal happened this morning on Dax m1. I had gone to gym and completed my workout. I did after I had completed the following trades.
Let’s first talk about the London Session trades.
It was not best of the setup this morning after the London Open. But it did show some momentum.
The box was big and the setup 1, arguably did not exist. But the Open’s are traded slightly differently. We can play in the direction of momentum.
|This is the first Point of entry. Pending order was setup a minute after the red dot. Instantly broke out and
|The trade was soon turned from Breakout into a Breakeven. Stop loss moved to Entry. And once I had 5 red candles trailed candles using ATM thanks to @snorm
|Finally the Exit. Trailing stop loss was hit with a profit of 9 points.
There were 2 more trades after this but lets just talk about The Setup that was not The Setup.
So below you see a good looking setup 1. But is it a setup 1?
All the information is on the Pictures.
|This picture shows what would appear like a nice Setup 1 to the beginner eye. But is it?
|AIMS M5/M1 method allows us to take only the Highest Probability Setups.