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Hi there! Arent those setups same? Or am I missing something? If its the same where would you put the stop?
Hi, Krzysztof.
The big bar is a BO bar, but possible sell climax because it is the third push down from the open. Personally, if I was willing to sell there thinking it is a sell the close, I would at least wait for a follow through bar. The follow through came, but the market never went below it, so it is not an entry.
If it was an entry, reasonable stops would be above the big bear bar or above the prior pullback high.
Thanks! That makes sense.
