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During a PB in a bull trend, I'm trying to narrow down what the ideal time is to enter back in the direction of the trend.
I understand that, if the bull trend is always-in, can buy for any reason.
During a PB, if I wanted to optimise my entry, would it be ideal to enter on H1 or is it better to wait for a H2?
Or does it depend on the strength of the trend?
E.g.:
Strong trend/ first PB after spike phase -> Enter on H1
If later in trend -> Wait for H2
Appreciate your thoughts on this and any references in the course/ books/ encyclopedia.
Thanks.
Hi Carpet,
Thanks much for the details. That makes sense. 👍
I'm trying to define the trade entries after the first and second PB in a spike & channel scenario.
For an example;
In above example, in PB01, if I waited for a H2, I'd be missing the trade entry.
And in PB02, if I entered in H1, I would be entering at a not so ideal price.
I was putting some notes together on what I think should be the entry decision. (work in progress)
Enter on H1 if:
- Spike phase shows urgency by the bulls. (big bull trend bars, gap ups)
- Price is above MA.
- PB is just 1 or 2 bear bars.
- PB does not contain big bear trend bars.
- H1 signal bar is a good looking bull trend bar.
Wait for H2 if:
- PB lasted for 3 or more bear bars.
- PB contains good looking bear trend bars.
- PB went below the MA -> Bear bars closed below MA.
Basically what I'm trying to define is "When did the PB end?".
Not sure if I'm overthinking this. 😀
