Set up 2

[Bettina]

Hi Immy or Grant,

is this a valid setup 2 ??
The red dot was not pink - no trade,
then there was a new Level, but this was grey - no trade.
New blue box : At the time when the blue box was broken, price action fulfilled all conditions.
????
Bettina

31-01-2012 EUR 12-48.png

[Grant]

Hi Bettina,

the answer is yes but no i wouldnt have taken it.

i wouldnt have taken it because after i had discounted the set up 1 once the red dot appeared i probably would not have been watching the chart closely enough to see it unfold as a set up 2...

So you quite rightly mention that all the rules are in place so could be taken as a trade..

Grant

[Bettina]

Thanks again , Grant. Always very, very useful your answers in cases of doubt !
Bettina