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According to Al, a pullback lasting more than 20 bars is typically considered a trading range. In a bull trend, if the bears create a 2-leg down movement lasting about 10 bars and the bulls resume but fail to make a new high within the next 10 bars, can this situation be classified as a trading range instead of a pullback?
Would like to check if I had bought at the bottom (in the first highlighted box), should I consider it as a trading range trade whereby I BLSHS or a pullback trade whereby I should have maybe held for a swing?
Thank you in advance
Hi Joshua, check out my 2c as far as reasoning for taking that bull setup you ask about. Could be wrong.
Thanks for sharing what you think happened on the chart, I've always wondered if others are seeing the same as me or if I have been labelling certain patterns wrongly and this is really helpful. Appreciate it 🙂
