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In Video 15E, there is a situation explained where the trend is in a matured stage, and we have a large bull BO-bar late in the trend. So probably an exhaustion gap.
Al's generic charts often show 20 to 30 bars. But I mostly have about a 100 bars on my charts. Suppose that this BO was out of a trading range that lasted about a 100 bars (see attached file). Would we still need to consider that big bull bar as "late in the trend"? Or would that make it "early in the trend".
This is a problem I often find myself confronted with. On the generic charts, the situation is clear as day, and the odds are probably 60/40. But when you have a chart with about a 100 bars in front of you, You can come up with about as much reasons to think the BO might be succesfull, as you can come up with reasons it won't be. And the odds seem to be 50/50.
Marvin
Seeing a big bull bar at the end of a bull trend should make u cautious, meaning it could be an exhaustion or BO.
The point here is to pay attention to it and wait for a follow through or entering on H1 or H2 if u want to be more conservative or to take the trade but be ready to get out with a small loss if trend reverses.
Having upto 100 bars on the chart is fine, but u need to keep in mind that most recent 20 or 30 bars are FAR more important than 50 or 60 bars ago and a BO or TR in the last 20 or 30 is much more important than a TR or BO 60 bars ago.
Thanks for your advice Karim
