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Hello! Do the bars highlighted below qualify as signal bars as well?
If not, I’d appreciate your comments on the context.
Thanks
Could be wrong, but:
1st - small bar, with big tails and small body. trading range bar, inside bear bar. Not a good signal buy bar.
2nd - Strong trend bar, break out bar, but close at previous high (12 bar before). High in trading range. Better to wait pullback.
Al's course is very special. 80% of the time you can go long or short and still break even if not make money. This is true. It also means that ever 1-2 bars there is a potential trade.
Learning to read the probability is what the structure of the course presents and it offers the potential to answer your immediate question, as well as where all of the other trades may exist (some may come with time and experience).
1st trade on the open might be a 3rd leg potential 10 am reversal, which is common. However, without the correct stop position managment, it often will fail.
2nd trade is a good bar with previous higher lows. Again, where the stop placement is determines success here.
Good trades to you!
Hey, in Short i would say no because the Context is a TTR. But like above it depends on your stop or your goals or your Target. Are you looking for a Swing or a scalp, this matters because it is important to Decide whats a good SB for you.
in terms of Context for example:
Lets say you thought the Bull Trend at the Open formed a DB Bull Flag, the orange line. Your Target would be the high of the Day, the neckline. Your two SB were possible SB‘S but this two Bars were in a TTR. A triangle. Al‘S bar were the safer SB because it was a breakout pullback Long setup, a breakout pullback Long from the triangle.
The market formed After the H1, lower highs and higher lows thats a singn of two sided trading, expected the BO to fail because of TR beahaviour.
Live at the market i think there isnt a real Edge at your SB‘S for a Swing up. If you want to scalp it may be different and your Target could be the Upper trendline from the First triangle at the 1st SB, wich i didnt draw.
the 2nd SB in terms of a scalp Are Bad in my opinion, because it was high in the TTR. I think i would wait or fade the BO, but to be honest i would wait.
