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Greetings,
I need some input to help grasp the idea on identifying 2BR and how to use them please.
If I simplify the formation of 2BR, my observation is that 2BR is any 2 bars with similar size overlapped with each other, forming a potential signal bar for reversal. (happy to be corrected!)
On Slide 13 of Al's video, Al has highlighted 5 2BRs (in blue). I have identified 4 more (in red). My thoughts for these 4 are:
- Red 1 and Red 2, context of prior bars is not clear, so can go either way.
- Red 3, can be seen as the end of 2nd leg up.
- Red 4, after climax of leg 3 up, can be a valid 2-bar reversal.
I'd be interested in getting your thoughts on a couple of things please:
1. are these 4 reds legitimate 2-Bar reversal signal bar?
2. If 2-bar reversal signal bar is common, how significant and useful are they in your trading execution?
Thanks.
Hi Tai - check out additional markups ... could be wrong
Hi Mike, thanks for pointing out that 2BR is not about 2 bars, but can be multi-bar; and the important point is it's reversal.
I re-read my notes, and this message seems to be across multiple slides. Context is another important part.
Appreciate your input, Mike.
