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Hi traders,
I am having trouble understanding second legs when you have a scenario like this, where the first impulse is strong enough to have a second leg, but on the other hand you have a PB that meets the same characteristics to have a second leg.
In this case, if for example you bought with a limit order below a bull bar or 30%-50% PB, what should be taken into account when deciding whether to exit the trade after the third CC Bear Bar as the price may continue to go down or even if it goes up it may just be a PB for another second leg down.
It is a complicated scenario as the Bulls deserve a second leg and until the Low of this first leg is not broken we are in AIL, but of course, on the other hand we can not ignore the PB so aggressive that can continue to grow or even have another second leg.
At what point is it decided that the second leg will not take place? When is this analysis invalidated? Can there be second legs after the Low is broken in a 1 strong bull leg?
Same case with Bears
All this is imagining a scenario that is not a TR, as it is more common for the price to shoot to the extremes, I am talking about a more trending or channel case.
Thank you, see you soon!
