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.
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First, is this the right place to ask questions about daily setups?
Second, what is the reason that Al picked selling below bar 4 (on 8-9-22) as a good trade for a beginner? To me it looks like a 4 bar trading range, and you would be selling near the bottom. You have 1 bear bar, 2 bull bars, then the 4th bar is another bear bar (no consecutive bear bars). What am I missing here?
First, is this the right place to ask questions about daily setups?
There is another section for that (see below): we'll move this post there.
https://www.brookstradingcourse.com/support-forum/encyclopedia-of-charts-patterns-daily-setups/
Second, what is the reason that Al picked selling below bar 4 (on 8-9-22) as a good trade for a beginner? To me it looks like a 4 bar trading range, and you would be selling near the bottom. You have 1 bear bar, 2 bull bars, then the 4th bar is another bear bar (no consecutive bear bars). What am I missing here?
Broad channels in the EMINI are rare so they are easy to overlook but 4L is a DT at EMA in a broad bear trend coming from yesterday, and 15L later was another PB at EMA and another sell. Both of them were kind of TTRs, so lowering the probability, and inside a broad channel, so you expect buyers at prior lows. Both trades gave 10p and reversed.
I think a little bit of micro pattern is at play here: 2-4 tails at top formed a micro wedge at double top with tail top of bar 1 near MA. And 4 was outside down bar.
Do you consider this micro pattern makes this trade good for beginner @ludopuig? Thanks.
Do you consider this micro pattern makes this trade good for beginner @ludopuig? Thanks.
Yes, you can see it that way and get some more confidence in the trade.
