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Here Al says:
Whenever you have a tight trading range relatively late in a bull trend it often becomes the final bull flag. So you get a breakout and breakout reverses. So, Anytime you see a tight trading range late in a bull trend you always have to be thinking about final bull flag.
My question:
How do I know that this is late in the bull trend? (bars on the left before tight trading range began).
Similarly, How do I know that this is late in the bear trend? (bear bars on the right after the breakout reversed, bars before ii bottom)
How many bars should I be looking on the left to validate that this is late in a bull trend?
If I am viewing this chart as a 5 min chart we have 9 bars forming a bull trend and the tight trading range followed.
If I view this as a 60 min chart we have the same amount of bars on the left.
@ludopuig @Mr. Carpet
