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Hey all,
I vaguely remember that Al mentioned that you should be suspicious of a SB forming at the last moment. For example, a big bull bar becoming a bearish hammer doji in the last 10 seconds. Does this make the signal stronger or less strong?
I would guess stronger cause it signifies momentum on the bears part. Can anyone answer this or point me to the correct part of the video course? 🙂
Ty!
Hey Jeffrey,
it has more to do with the fact that we should buy or sell a bar after it's close most of the time as a good looking bear bar can change the direction in the last 10 seconds and vice versa. This are new info which might change your mind about your trade and the whole pattern which you see atm. .
Yea so always be vigilant for these things to happen, so you're saying it has no extra value that it closed last minute like this?
The assumption is that you get the most value after the bar closed. As long as it's in the forming anything can happen. Of course you can make some assumptions during the bar forming but this needs a lot of experience and screen time for your brain to recognize nuances in real time. Be aware that's only my view and that others may have a different perspective as well what is usual as everyone look differently at the market.
Its all about the context. If its a moderate or stronger bull trend, I've gotten sucked into a bad trade where a SB crashes down in the last seconds with a lot of momentum and closes on or near its low, but if its right into the EMA or support you can either get a reversal or a painfully big bounce before going down. If its a TR day then I have a lot more confidence even if its into the EMA or a support level.
15d
15d
Yes I know that one. Bullish BO bars are stronger when they spend more time near the high, but how about hammers? Do they need to spend a lot of time near their high/low too, or is last minute stronger? I believe Al also said something about that.
