DislikedForgot the rest of the post.
The discussion about the failed 'pins' (some were never triggered) in Aug/Sept 2008 also led to discussion about playing failed pins in opposite direction. Might be worth reading some of that so as to not 'reinvent the wheel'...
JoshIgnored
Just want to add some more about the failed PB. I've been trading PB (or called Bullish/Bearish Divergent Bar in my method of trading) for a year now except with J16 PB, I become more picky about the size and location (this truly helps improving my odds and helps me to understand why the PB formed in certain area) though before this I never implement PPZ so I have lack of experience in PB+PPZ. But just considering PB only, usually PB failed on trending market especially those tiny PB, but A+ setups often do not (that's why I think J16 considered only taking the best PB). It may break but usually just for retracement and I do played failed PB but like any other setups it could failed. So my filter is, is the market has been trending quite some time (is more to your own discretion) usually if the PB failed, I don't put my stop order because usually it will also fail to continue the trend and if it continue, NVM, is part of my trading plan. Just move on. But I do believe and that's why I've been involved in this thread, with the help of recognizing good PPZ, we could filter whether to put reverse order on the failed PB and recognize the good area with PA. The rest is waiting.