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Why is the Bull reversal bar at the bottom/middle a buy
Consecutive climaxes and good signal bar so you can expect two legs sideways to up.
Good signal bar, but it's in a strong bear trend: "In a strong trend minor resistance will fail. Trade with the trend"
40% chance the bottom sell climax will reverse a strong leg down?
"In a strong trend minor resistance will fail. Trade with the trend"
Unless it becomes climactic. If so, there will be at least a pause (two legs up) before the MKT decides for trend resumption, reversal, or TR, like in this slide.
40% chance the bottom sell climax will reverse a strong leg down?
With several clear climaxes and a good SB, this reversal is close to 50%, yet the channel down is tight so the first reversal is probably minor and will be followed by a trend resumption attempt which, in this case, ended up as a HL MTR.
