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I trading range video 47C, In slide 19 Al says that when a second stop order entry is lost do not enter on a 3rd entry because the market might be in a channel and not trading range. so my question is does that mean if the market triggers the stop of a 2nd entry, the market is in a trend and not a TR and the 2nd stop order enter is the pullback from the spike and is going to form a channel.
If anyone has struggles not understanding the question please tell me, because when reading it twice it is pretty confusing for me as well. I will try to explain the question better please don't ignore this question.
timestamp for the slide is: 24:14 (in 47C).
Hi, Abishek
On the video Al said that it might be on a channel, meaning that the probability is not high enough for the trader to take the 3rd entry sell, but also not high enough for him to say that it is in a channel. The market cycle would not be clear and it is probably better for a begginer to take a pause and see what is going on.
Hope that helps.
