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Unit 13 bull channel pullbacks
hm...not sure if this is the right place to ask, anyway, has anyone watched the best trades Unit 13 bull channel pullback yet??
Al talks about how to trade h1 and h2 on the first few minutes, the 1st chart that he illustrated was a bear leg in TR and bull bought at the bottom and price raise up to prior high (top of bear leg), then price pullback for a little and form h1 and h2
What I don’t understand is the h1 h2 bars were below top of bear leg, which mean it could be considered that the price was still in TR, why would you take a big risk (stop loss below the bottom of bull leg) when price is still in a TR?
Anyone mind sharing their thoughts??
The later parts in the course might clear up some confusion for you.
Remember to view the market from both sides.
Often there's both reasonable bull and bear setups.
Both sides can be right in their analysis. But one side has to lose.
We can never be certain about the probability. But maybe the bulls had 60% chance of winning, meaning they could go for a 1:1 risk:reward.
And maybe bears had a 40% chance of winning, but their low risk, gave them room for a bigger profit target, they could go for 1:2 risk:reward.
Both setups should turn out profitable if you take hundreds of them and don't make too many mistakes of not following your rules 🙂
And for the analysis:
I can only speak from my own opinion (there's as many opinions as there's traders, no one reads the price action precisely the same)
But I may also be biased, because of analyzing in "hindsight", as we were shown the outcome from the start.
I've written down my analysis on the screenshot below (hope I posted it correctly)
Any additions or different opinions are welcome. We're all here to learn.
Hope it is of some use to you.
Thanks Emil, it helps, and yeah, I have been studying AL's trading course too, there are so much to learn, it's like studying a uni degree lol
I'm happy to help, I also learn a lot in the process.
So true! 🙂
Trying to learn all the things in first go, is just too much.
I think this "best trades" approach will bring us closer to our goals.
Hi Emill just wanted to thank u for your notes very helpful