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49D sell above 5 bear bars
Question: Video 49D time: 30:12 .. "sell above bear bar after 5 bear bars" Any specific reason why "5"? I understand that it would be reasonable to take profit and for a PB to start, but what's the reasoning behind 5 bars?
I think it´s not about the number 5, it´s about a bear micro channel indicating strong selling pressure. In this context the first resistance above is the high of the previous bearbar, then the high of the previous strong bearbar, then the last swing high....