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At 5:08 in the video - what keeps us from shorting the close of the 2nd consecutive bear bar closing on its low and putting a stop above HOD? Is it one of the following?
1. Al mentions we're still above the MA, but isn't that always the case when we'd have a gap open that starts with two bear bars?
2. Is it just that the daily time frame is in a BTC bull trend, which seems to be the point of the video?
3. Maybe you'd want a stop entry below the 2nd bar bar which would have never triggered?
4. Brad Wolff often mentions not trading the first several bars, but the 3rd bar is pointed out as a potential entry here, so that's probably not it.
Or is shorting the close of the 2nd bear bar a reasonable trade and just would have been a loser in this instance.
Thanks very much!
Are you talking about 49A?
Apologies! 49F.
Incredible - thank you so much for this super thoughtful breakdown.
