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Hi everyone,
Can anyone help me remember what video I saw this in (from the online course):
Something to the effect of "if the bulls or bears need one more bar to feel like they have regained control, you can bet against that."
I found a video on "Always in" that mentions it briefly but not is as much detail as I remember.
I could be wrong, but I think one video talks about this a bit more and says something that sounds like this: "it's one of those rare occasions when you can have a high probability bet (trading in the Always in direction) with low risk (only one bar) because if for example we are always in long and then we get a big bear bar but the bears need one more bear bar to start thinking about selling again, you can buy that bear bar's close and then if they do get that one more bear bar then you can exit your long if the market trades one tick below that new bear bar so your risk ends up being only one bar."
Maybe I'm remembering this wrong, but I seem to remember a video specifically emphasizing that "your risk is only one bar" in this situation instead of "having to be a stop loss below the last major swing low."
I would like to find this video because, if it exists the way I remember, it's an interesting type of setup that provides an alternative to the usual risk management strategy of placing a stop below a major swing and I would like to study the topic again.
If you remember what video this is, please let me know, I would really appreciate it!
Thanks in advance!