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- I’m really spending a lot of time on MTR. In this video Al says 5 bull bars that’s not a good signal. I’m very confused on that and this set up. I would view the LH on the left as part of a bull flag especially after the 5 bull bars. On the far right where he has ‘sell again’ that is probably the only spot I would think about selling initially because it looks like a trading range but the range is making higher lows. Any comments on this?
I would view the LH on the left as part of a bull flag especially after the 5 bull bars
After the deep PB you are probably in a TR and you are high, so you can think to sell. Yet, because the 5 consecutive bars, you need to wait for a second entry.
On the far right where he has ‘sell again’ that is probably the only spot I would think about selling initially...
That is Ok!
... because it looks like a trading range...
The whole chart is a TR, very clearly after the deep PB that broke the trendline and set up a possible MTR.
...but the range is making higher lows
It is creating a very common pattern for a MTR: a Wedge and DT with the high of day
Thank you again for the extra info. Most appreciated.