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Q1.WHY ARE WE BUYING PBS IN PINK?BUYING AT BOTTOM OF TREND CHANNEL LINE OVERSHOOT IS MAKING SENSE TO ME ,BUT THIS BULL RALLY CAN BE A LEG IN A TR ,SO I THINK IT IS NOT GOOD TO BUY IN BETWEEN A TR,OR ARE WE JUST BUYING BECAUSE HERE CONTEXT IS VERY GOOD(WEDGE+DOUBLE MICRO BOTTOM) AND PBS ARE AFTER STRONG BULL BARS.
Q2.I THINK EVEN AFTER STRONG BULL BARS IT IS NOT RIGHT TO BUY PB AT TOP OF A BIG TR (SEE IN BLACK).AM I CORRECT ?
Could I please ask you to not use all caps in asking or answering your questions? It is the equivalent of shouting at someone - not a great feeling to be shouted at after a long day of trading. 😉
Why? Bulls are getting big bars, not much overlap, reversing what the bears did in the past few hours. There are also a few gaps and body gaps. I don't have any information to assume this is a bull leg in what will become a TR. Even if I did, there is still room to the most recent high for the bulls to buy and make money.
Q2.I THINK EVEN AFTER STRONG BULL BARS IT IS NOT RIGHT TO BUY PB AT TOP OF A BIG TR (SEE IN BLACK).AM I CORRECT ?
If you don't buy despite strong bull bars, when else will you? What's the point in ignoring what the market is trying to tell you and sticking to your premise of TR, which clearly doesn't hold anymore here. As tight a bull channel as this is, even if you get a PB, the Bulls will get at least another leg up before the bears get their swing down. The market crossed the most recent high, and even got 2 FT bull bars. This to me, is a successful BO unless the bears can show otherwise which they didn't in the chart you shared.
Also, side note - if Al says buy, you buy. If he says sell, you sell. If he says to abandon all hope and run you run. It will take some time to internalize this concept, but heed everything he says and no one can stop you from being a successful trader. Just something to keep in mind. 😋
I appreciate you, Abir, for responding to my questions so quickly and in such great detail. We must execute every trade we can in that direction as soon as the market becomes always "in" (long or short). And I apologies for writing questions in capital letters; I won't do that again.
