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Al brooks talks about 18 bar by which 90% probability that market has formed either H or L of the day.
Since 18 bar is in reference to 80 bars of 5 mnt in a day in Emini, I have one doubt as I trade Nifty 50 and we have only 72bars of 5 mnt in a day in Nifty 50, so should I consider 18 bar as reference or 16/17 bar in place of 18 bar in nifty.
Nifty has 75 bars
Every market has different characterstics, you have to make an assumption on that probability based on your trading experience. I would personally suggest to keep the 90% rule for 18 bars. It is because opening moves are always impactful. There might be some deviation but not enough to change your trading idea.
Thankyou 👍
Al brooks talks about 18 bar by which 90% probability that market has formed either H or L of the day.
Since 18 bar is in reference to 80 bars of 5 mnt in a day in Emini, I have one doubt as I trade Nifty 50 and we have only 72bars of 5 mnt in a day in Nifty 50, so should I consider 18 bar as reference or 16/17 bar in place of 18 bar in nifty.
Can you please clarify your issue, which video and slide?
Hey Ashish, I think its 18 bars for all charts to trade.
In forex courses, Al still uses the 18 bar range but for each session. but, Forex sessions are not at a fixed time. The sessions there doesn't exactly have 81 bars sometimes its more, sometimes its less.
Hope the answer helps.
