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consecutive bull bars
We have only 3 bull bars of 11 closing near their highs, But al says we have consecutive bull bars closing near their highs! Can you explain me more about this issue?
He means the 4th and 5th bar in this chart. The first three bars are bull bars but have tails, so the bears are trying to put a top. Then the 4th and 5th bar, closing on the high, represent bears giving up and the move becoming stronger, so from there you should expect more up. From the 6th bar onwards the MKT entered the channel phase, tho a strong one because the bull microchannel lasted 5 more bars.