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I am building a playbook and have some notes about 2nd pullback after an uptrend being twice the size of the 1st pullback. In my notes I reference the 2nd and 3rf pullbacks.
I sware this was from one of Al's videos.
Can someone verify if I am remembering this correct and which video talks about this??
Not sure if this is what you mean but the only time I recall Al talking about a PB being twice the prior ones is in the context of a SPBL trend with a last PB that is usually twice as big as earlier biggest one within the trend. See Video 14E, slide 23...
I don't think that's from one of the videos in this course.
how do I tell the slide number during the vid?
how do I tell the slide number during the vid?
Bottom right corner...
I think you are referring to measured moves of legs, that is covered in the measured move videos.
… not sure which video but here’s some info on measured moves.
The market often tries to do something twice. The result is that most tops are variations of double tops, most bottoms are variations of double bottoms, and trends often have at least a second leg with the size of the second leg related to that of the first leg.
Everyone is familiar with a Leg 1 = Leg 2 measured move. This i, where the market has a second leg that is almost identical to the length of the first.
Also, traders look for a measured move after a breakout from a trading range. They expect the move to be about the same size as the trading range is tall. The are many other types of measured moves that the computers use to either take profits or to enter reversal trades, and several are based on intraday gaps, or the height of breakouts.
