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17B>S3 The Red circle is may be Exhaustion(late in trend,20 bars),like Al early said,way should Buy?
The Red circle is may be Exhaustion(late in trend,20 bars),like Al early said,way should Buy?
The trend actually begun at the first green rectangle and, after a BO test (TR in blue rectangle), you are getting a BO (second green rectangle). This is early not late in a trend and therefore is a buy.
When a BO extends for many bars it becomes a climax. In these charts many bull bars in a microchannel followed by a kind of DT, so the bulls have to exit.
In the first chart, you have many less bars on the microchannel and it is breaking out of a TR, so you could expect another leg up or maybe the start of a protracted move, but it also has a much bigger bar followed by a bear bar, so the bulls have to wait for the next bars to see if the move continues or rather the MKT creates, like in the charts above, any kind of top (another DT, micro DT or FF). If it does they should also exit but they can expect the MKT to create a PB on the test of the bottom of the big climatic bar (first target for the bears). Yet, if the MKT starts creating consecutive bear bars, like in the charts above, the MKT has reversed and you should be looking to sell, same thing that in the charts just above.
Like Ludopuig said, in the first chart the second BO is coming after a TR, so less chances of it being a climax. I don't remember the video, but there is a video in which Al highlights the difference between such cases (which you are talking about), i.e. difference between BO coming after a TR, and without TR.
If someone remembers which video is that, please mention it 🙂
Also on the top chart, if I Remember correctly Al has not marked 'Must Buy' for after the last bar. Al has marked 'Must Buy' for anywhere in the second green rectangle. So hopefully one would buy in the first 3 bull bars (if not somewhere in the first green rectangle)
I don't remember in the course but in the encyclopedia, on part 4, slide 75 for the bear BO of a TR and slide 131 for the bull BO.
Cool, thanks. Yeah I could have seen it in the Encyclopedia. I just remember that Al had mentioned this on some slide.
Thanks all,I will working on it!