This is a subjective question. Personally I consider the minimum 2nd leg a test of the high close of a bull leg or low close of a bear leg. Remember a second leg can be "sideways to up," not necessarily up. Also it can fail to reach my minimum requirement and I'll still call it a failed or sideways 2nd leg.
Trading questions are tough because trading is subjective. Bar 3 was the H1 entry bar and selling there is probably fine especially if you can use a wide stop and scale in. I would try to get consistent with stop orders and no scaling in first though.
The explanation is far better than those of Brad Wolff.. Yours resembles Al himself . Thanks alot , keep doing!
Always excellent information! Thanks, Joseph!!!
Thank you!
Excellent hindsight commentary 👍
Thanks for your time Joseph, great content in a relatively short period.
Thank you sir
Your studies have helped me a lot, thanks for sharing. Greetings from Brazil!
Happy to help!
Thanks jo🎉
Good stuff.
So the delayed second leg has to go 1 tick above the previous extreme for you to consider it a 2nd leg?
This is a subjective question. Personally I consider the minimum 2nd leg a test of the high close of a bull leg or low close of a bear leg. Remember a second leg can be "sideways to up," not necessarily up. Also it can fail to reach my minimum requirement and I'll still call it a failed or sideways 2nd leg.
Thank you for sharing, but I am not good at English, can only understand half of it.
is b3 a bad h1 and good entry for short because trapped bulls? at least expect 2 legs down before reversal on open gap up?
thats how i traded it anyway
Trading questions are tough because trading is subjective. Bar 3 was the H1 entry bar and selling there is probably fine especially if you can use a wide stop and scale in. I would try to get consistent with stop orders and no scaling in first though.