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In the TR video 47D, Al takes about BO from a TR. He says when there are two bars closing out side the range with medium sized bodies its highly likely the market has broken out of TR.
My question is what if price broke out only with wicks or only with one bar.
In the above picture, I have marked a big down big up with its top and bottom and think the market cycle is in TR.
After a few bars the market made an BO attempt up and down with wicks for BO above and one bar BO below.
So will the Top and bottom of TR change like I have upgraded in the above picture?
1
2
And out of the above picture which will you consider to be a BO from TR? 1 or 2.
Thank you for your answers in advance.
Thank you very much Mr. Carpet.
There is also another question in TR that I asked, will the top and bottom of TR change after a failed BO and like you said will you consider a BO and 50% chance for MM if the market makes a strong bar and a FT bar above the initial range or the range that the fake BO made(with a wick or a one BO bar with bad follow through)?
Thank you very much for your detailed explanation for both the questions I asked.
