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Hey all,
I was just wondering why 47 is an Entry Bar on Wednesday, October 2.
My guess is that Bar 47 follows two doji-ish looking buy signal bars after a test of the open.
And, the specific entry point might be a stop order above Bar 46 for a Breakout of that bar (as opposed to a Buy The Close order after 46 closes).
On that same Wednesday, Oct. 2 chart, I was also curious why Bar 66 signals an Entry on 67.
My best guess on that one is that Bar 66 is a bullish Doji after Bar 65 failed to close below the 20 EMA and could signal a second, small leg up.
And, again on this bar, the entry could be a stop Bar 66 for a Breakout into the second leg, rather than a BTC entry.
Thank you for checking this out,
Ryan
Hoo Wee,
That chart is pretty awesome! The expanding triangle idea helps make sense of the movement after 47. The ioi could also create a High 2 entry, as you have marked on the chart.
And, on bar 66, the triangle makes a lot of sense for that entry after the doji as well.
Thank you Mike!
You dont have that credible of a top, so a test back up makes sense. Tested OOD in what could be some kind of wedge, or FBO of a wedge. Often when a wedge fails you want it to accelerate down, but b42 BO immediately lost momentum, so he thought of it as possible FBO. However, these signal bars 43/45/46 still are not very good in my opinion (bunch of dojis), and as you can see it did quickly get stopped out.
Maybe 66 because ioi 64-66 BOM for trend continuation, but really Al doesn't mark dojis that often, I wouldn't focus on them.
That makes sense, before the 47 entry bar, the market had that exhaustive bar down to the Open, so I guess it would be worth a bullish entry after the ioi with buy signal bars. As Al mentions, always decide early about a move (or something like that).
And, I'll have to look in the Daily Setups to find some more insight about the times that Al marks entry bars after Doji's. Although, you're right, he marks enough clear entries that I might not need to worry about the doji signal bars. I just find it interesting.
Thanks again,
Ryan
Ryan, my 2c could be wrong (attached)
