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Hello,
I have one doubt regarding Consecutive bottoms i.e. High 5 or High 6.
In video 9A it is mentioned that if we are in a bull trend and get High 5, then we can stop counting since the market will be probably now on a TR or bear. Now when watching video 9B the opposite is said, "consecutive bottom attempts (e.g. High 5 or High 6) have higher probability of reversal" (buy setup).
I would appreciate if someone could clarify this for me since I´m a little bit confused. Perhaps I have missed/misunderstood something in the videos so I would be grateful to get some help.
Thank you very much!
In video 9A it is mentioned that if we are in a bull trend and get High 5, then we can stop counting since the market will be probably now on a TR or bear. Now when watching video 9B the opposite is said, "consecutive bottom attempts (e.g. High 5 or High 6) have higher probability of reversal" (buy setup).
Different contexts, I didn't go thru the particular slides because you didn't give details but I guess that in Video 9A you have a H5 PB in a bull trend while the context in the consecutive bottoms example is a bear trend. Therefore, they are traded differently.
Thank you for your reply ludopuig. I will check out the videos and the context again.
