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18B , slide 14
After the "Big up, big down reversal" there is confusion so a probable trading range. But as Al said it went sideways for about 10 bars. I thought that a trading range is 20+ bars. I guess my question is: Is this a trading range or not? Al said the roughly 10 bars is, but I thought it has to be 20+
Not sure what you meant. Are you sure you are talking about video 18B, slide 14? If so, can you give minute and second where Al states that?
It went sideways for 10 bars but the TR didn't start there, the whole chart was a TR (>20 bars). What Al explains is that after the spike down, probably will get a second leg (after a pause = sideways < 20 bars or probability would become neutral) but that can be it because the TR PA from the very first bars.
Thanks for the response! I'm not sure I understand the response. It was a bull channel with a failed breakout above the channel. Then the spike down. How was the whole chart a trading range?
When you see a trend up you have to ask yourself: is it a bull trend or a bull leg in a TR? If you get bad FT on BOs, if bears are making money all the way up selling above bars, if you get consecutive bear bars... it is likely to be a bull leg in a developing TR and if it is so, the trend up will be followed by a trend down, both legs of a TR, which is what happened... and this is why you can say TR from the very beginning and expect both breakouts at the end of the legs (the green box for the bulls and the second red box for the bears) to fail and reverse.
Al talks about these things in many videos so keep watching them and it will become clear to you.