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14 C Every trend starts with a breakout
Please tell me if I am being too pedantic here but Al says at slide 4 around 2:19 that "Every trend starts with a breakout - at least a small breakout" but at 4:40 ish he says “Most Bear Trends begin with some sort of a Breakout” . To me Most and Every have different meanings. Which should we rely on?
Not pedantic but just doing a fine reading which is Ok!
You should choose the "every" option but sometimes the BOs are so small that they are easy to overlook. If you think of a BO in its strictest sense, it is just a bar going above or below the previous bar not even needed to close beyond, just to take over one of its extremes. In this sense, every trend begins with a BO.
Yet, if for a BO you want not only the bar to go well above or below the previous one but to close also there and probably break above some other magnets (the more the stronger the BO), like a previous high or low, a trend line, or close beyond several bars (not just the previous one), then not every trend begins with a BO.
The better way to see the different BOs that can lead to trends (1 huge bar, 2 strong bars, 4-5 small bars) is to check the encyclopedia BOs section.
Thank you - a clear explanation, and amazingly prompt. Cheers