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
How deep is this pullback? What starting point is used for measuring pullbacks when there is a gap open ?
Thanks!
I would start with the L of Bar 1 to the H of Bar 8. The L of Bar 11 is about a 50% PB which is the bottom chart you show. If the market continues to move lower, then I would start to look at larger measures using the start of the last BO like the middle chart.
Hi w,
Two things come to mind when deciding where to start measuring:
1) start conservatively and keep expanding if keeps going
2) use the most immediate move first if available
So in (A) there was already a strong move on the open 1-8 so we can start with that first and measure the PB against it.
In (B) there wasn't much of a move from the open, it became TTR right away, so we can use the gap/spike for the measuring. I would start conservatively from COY, before expanding to LOY if PB keeps going.
Hope that helped!
CH
_____________________
BPA Telegram Group
