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At that point, there is insufficient selling pressure and the bull trend is still intact. Also note the bull micro channel.
Good trades to you!
Hy,
in my opinion there a lot of reasons that this might be not a sell climax, and instead a new BO.
I think for you it will be more helpfull, to write the reasons why you think this might be a good sell. Why do you think this is a good sell? Whats your reasons, whats your targets,…?
Hear from you.
Best regards.
this is my opinion
Here are my thoughts.
I know that in Live Tradfing everything might look a bit different like in marking up the Chart after it. But the most important Thing at your trade is, that this wasnt a good SB for a reversal. In my opinion.
If you have any Question, please ask.
On a Highr Time Frame the whole situation might be a BO PB above the Ressistance line. Then The BO after the PB might fails - but this isnt on the Chart.
Best regards.
I think the signal bar as a 2bar reversal signal so the overlap is ok for me
But it can not close below prior bar so yes this make it less reliable .
In this chart bar 75 did not go below bar 74 if it went under it
Is that sell been good ?
Thank you for your help.
Ok, makes sense, but if you compare the two bull bars befroe it. it wasnt that strong. If you look at reversals, AL writes the SB on Reverslas is more important as with with trend trades.
It also depends what are you loking for a swing or a scalp trade.
are you looking for a scalp because you choose the initial BO or first entry? for a swing, a entry after a PB would be better or you have a bigger chance to reach your target.
i would donsider B80 as a moderate SB in Terms of context, a bit small but there was enough room to go a bit down.
B75 was a possible lower DT, after a Wedge top if you draw the wedge like you did it.
But it has to much overlap in my opinion with the prior bar. There isn´t much room for the downside. if you placed a stop order sell you would not get triggered and a BO followed with a possible MM up from the TR of the DT. After this BO the market becomes climatic and a Reversal or PB is way more likely.
If you compare the two wedge Tops the right one is looking was more climatic and Reversal like then the Left one. Did you see the difference? The right one is climatic bulls exited on the Big bull bars above the Channel line and below B80 and below B81.
A lot is dependent of sterngth and measurements.
Im with you Eric.
i did complain this two charts and i think these two charts are mostly identical, only a few bars are not the same if you compare it.
So the easiest answer might be like Al or whoever wrote on the right Picture in the header that the market was in a small PB bull trend after the Wedge bottom at the open. If you take a closer look on the Chart there were a DB PB at the MA with a strong BO so there wasnt a reason to sell in a strong trend like this. and a possible MM from the TR up as the 1st Target. All the Reversal attempts after the DB at the MA werent really strong. There isnt a reason to sell. Until the MM target and B80+B81 were reasonable Sell Stop entrys.
Good analysis. B1 & B2 higher volatility bars often trigger the 2 failure rule. As bias was still for a test of the high, buying with a stop above B2 will be on the daily marked trades.
More advanced moderators might have limit order buys scattered in the areas of the B1 and B2 low tests.
