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In video 49d, slide 20, b1-3 starts with 3 bear bars, then b4 is a doji, and b5 closes on its high. Al claims he would sell above b5 looking for a second leg down, because b1-3 were three bear bars. However, he makes no mention to the possibility of an opening reversal. In Opening Reversal video, it states no matter how strong the move on the open, there is 50% chance of major reversal, and it is wise to get out at the open if there is a reversal bar closing on its high.
So, does anyone have guidelines as to when you respect the opening reversal potential, instead of expecting second leg down?
Yes, there is potential for sideways-to-down after "bull climax" the day before (was it even that climactic?), but there's also the potential for continuation at the open.
