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13B - Bears trying to BO
In this slide, Al's mentioned that the Bears tried to BO twice and failed and when that happens, usually, they give up:
However, one could also think that, actually, the Bulls are trying to stop the Bear BO, and they failed their first attempt.
When similar situations occur, I usually have difficulty realizing whether the Bears are trying and failing, or the Bulls are trying and failing.
Any ideas on how to interpret this price action?
Thanks in advance!
As long as the MKT makes HL, bears that fail twice will give up. This chart is like Tuesday's emini on bar 53
Would you say the key is to pay attention to the trend the MKT is currently in?
Great, thank you!!