The support forum is built with (1) General and FAQ forums for common trading queries received from aspiring and experienced traders, and (2) forums for course video topics. How to Trade Price Action and How to Trade Forex Price Action videos are consolidated into common forums.
Brooks Trading Course social media communities
(41C) On min 15 chart there's a BO with 2 biggest bear bar for the past 30 bars. Is that a BO for a Measured Move or is it a Climax and will be a Measured Gap? The FT bar is a doji and then is another big bear bar closing on it's low. By than it's probably a MM right? But on bar 9 it's the 3rd push down and failed BO. Shouldn't I just get out of my shorts there? Or above bar 14? After the BO (even thought it's not big enough) on bars 15-16 should I still considering short?
(41C) On min 15 chart there's a BO with 2 biggest bear bar for the past 30 bars. Is that a BO for a Measured Move or is it a Climax and will be a Measured Gap?
2 strong bear bars on the open makes the MKT Always-in short and traders expect a MM but then you need to analyze next bars to know if this premise is still valid.
The FT bar is a doji and then is another big bear bar closing on it's low. By than it's probably a MM right?
What made the probability favor the bears were the 2 first bear bars, at bar 4 no bull bars so far so, yes, more down likely.
But on bar 9 it's the 3rd push down and failed BO. Shouldn't I just get out of my shorts there?
Absolutely, this is a great buy but you need to have in mind that you are buying in a bear channel, so bears exit but looking to sell again above.
After the BO (even thought it's not big enough) on bars 15-16 should I still considering short?
Yes, because you are still in a bear channel (coming from yesterday) and you are getting a 50% PB so the bear premise (today's spike and bear channel) is still valid. The two bear bars 20-21 closing near the low are telling you that.
