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Official markup refers to "H2 and HL DB" is this correct
Yes, that’s correct.
No offense, but are you an expert?
I need to make sure that is correct and also exactly what Al was referring to. Thank you
Official markup refers to HH DT, is this correct
Not offended and I’m no expert but this case is pretty easy (in hindsight 😉 ).
While I am fearful not being an expert and still commenting here, I have rarely seen (if any at all) mistakes in the markups Al posts. To put it simply, unless the markings are a typo, it would take a long (oh so long) time before you are able to identify a mistake in Al's markups.
Also, yes. Both these markings are correct - no typo present. Not sure why you're asking though.
Asking because the official markup is confusing to read, and I don't know if that is what he is referring to.
This is the first I have done, so maybe they become easier to read.
Is this H2 correct
Also, what's the difference between H2 and consecutive H1 (H1 + H1)
Is this H2 correct
Also, what's the difference between H2 and consecutive H1 (H1 + H1)
Many ways to read it.
Bar 2 is H1 of the day, but bar 5 is the H1 of the move up from bar 3, because it is the first pullback after it. Why is it not a H2? Well, you can also call it a H2, but it actually doesn't matter because it is at the top of the the TTR open, so it is a low probability trade, and that is the important point.
Al argued here that the move up from bar 3 to 6 is just a bigger H1 (when he says "bigger H1" it means that in a higher time frame it is just a H1 and it doesn't have pullbacks), and bar 9 is the H2 after this bigger H1. It is also a HL DB.
But can you call it a H3? Yes (personally i think it is strange). Can you can it a HL DB? Yes. Can you call it a H1 after this big bear bar? Yes. Can you simply see this as a TTR and wait for the BO to buy or sell? Yes. The important thing is to understand that before the BO, no matter where you buy, it is a low probability trade and you have to manage it like one.
Bar 6 is a HH DT, but bar 3 is also a micro DT with bar 1, so you can also see the B6 as micro wedge (failed BO above DT). But I think the bottom line is that it doesn't matter how you call it, if you understand the forces behind, it is the same thing.
Al can't mark everything he sees on the chart, so it is okay to give diferent names and see somethings diferently, as long you trade them the same way.
Excellent. Now it's becoming more clear.
I originally had it marked as an FBO below a small triangle. If that is accurate, it goes with what you're saying "many ways to read it"
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