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1) With in how many bars will find Good context or bad context based on 5 min chart?
2) Some charts 2 leg would stop, Some charts can see 3 rd leg going on. How do find 3 rd leg will happen or not?
1) With in how many bars will find Good context or bad context based on 5 min chart?
This varies... If the MKT is in a bear trend, the context is all the way back to the start of the trend; if you are in a TR, the context started where the TR PA was clear... as always with these issues, talking in theory will not help much so try to post a chart where you don't see it clear and we can better help.
2) Some charts 2 leg would stop, Some charts can see 3 rd leg going on. How do find 3 rd leg will happen or not?
If the second leg is strong but not climatic and there are magnets below (bear case), you can expect a third leg down so after the second leg is over you look for a L2 or wedge to enter. But same thing than above, the difference is in the details so post a chart when you find an example.
