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The reason for the topic:
video 15A on 7:50, Al says a "here we have a Bull BO" on the 1st bar, then a pause bar happens(2nd bar) he says "an attempt to make the BO fail" and he says by the 3rd bar going below the low of the 2nd bar(pullback happens) it triggers the failed bull BO.
My question:
Is it considered a BO if it has bear bars in them but no pullback?
My understanding of BO: A trend bar with follow through of any bar(except the bar of the opposite color) regardless of pullbacks. and would consider the BO ended when it has the bar of the opposite color.
Am I wrong about this?
There is more detail needed with regards to context. Every trend bar is essentially a breakout of something.
Did the BO bar shift the context to Always In? If so, the BO will often succeed even if the next bar is a smaller inside bar. However, the probabilities reduce if the next bar after a BO do not provide follow through (minimum doji).
Although a shorter answer, hopefully the detail provides you with enough to build out your theory of when a BO succeeds or fails.
Good trades to you!
