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In Video 15A, at 17:25, Al mentioned: “Is it an important high? Is this the start of a major reversal up into a bull trend?”
Does this “important high” refer to the bullish bar with the long upper tail, or to the fourth bar that appears later, which has a large body and closes near its high?
Al also mentioned that, because there was no strong bearish breakout following it, does this mean that an important high must be followed by a strong bearish breakout in order to be considered an important high?
Following this logic, would the fourth bar—the one with the large body and a close near its high—be the true important high?