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The bar that shook the trading world
Traders won't stop talking about bar 50 on March 2nd, 2023:
It was clearly a strong breakout, but the tail created a lot of hesitation to buy. Later, the Greatest Of All Traders, in one of the best interviews of all time, explained that this could be just a micro bull flag: The GOAT Teaches Price Action Mastery @ 27:08, and it was.
Traders shouldn't be scared to enter with small size. However, it's also critical to be aware of the context when looking to buy a bar with a big tail like that. In this case it was a very "special" bar that clearly changed the character of the market on a small range day that had potential to double (either up or down).
Now, anytime a bull bar with a big tail appears anywhere on a chart traders whisper about that bar from that day.
Hope this was interesting!
Traders at BPA Telegram Chat are bonkers for micro tails.