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
Just thought to share this interesting bar from my Anki flashcards on a slow weekend:
Sell close of 73 as buy climax/bull trap for reversal down yes/no?
Notes from what Al said during webinar:
B73 is enough of a surprise that:
- trapped limit bears are hoping for a PB to get out of shorts
- bulls are buying at market expecting another leg up (Encyclopedia Part 13: Slide 21,31,39)
- bull's big hope is a BTC trend into EOD like Encyclopedia Part 13, Slide 35 but that one started later in the day, today it's too early (See How To Trade EOD videos).
Chances are first PB will get buyers for 2nd leg up attempt.
But chances are also that strong bull trend into EOD is unlikely.
- Expect a few bull bars and then sideways to down (Encyclopedia Part 13: Slide 6,7,8).
- A complete bear reversal after a little more up is also possible (Encyclopedia Part 13: Slide 25,27,29).
- Strong BTC into EOD from here is an exception.
Stop below 73 for buyers is wide so have to reduce size.
When to exit longs? Below any bear bar.
When to sell in case bull trap? If B74 is a strong bear bar.
Cheers,
CH
__________________________
BPA Telegram Chat
