Tanzania, United Rep. Of Map on To summarize on the above, if the market shoots away from a missed break and no immediate second instance entries are offered (like a mini pullback in the entry bar itself, or maybe in the bar after), the best way to deal with the mishap is to simply accept that it happened and not look upon it as something that needs to be corrected. Just regard the 122 Chapter 5 Trade Setups – Pattern Break Combi situation with neutral eyes again and take it from there. As we can see, when a blocky pullback is not that extensive (5-6), it may only take a few extra bars to transform it into a continuation progression (5-ellipse).
The combi in the ellipse was reversed, meaning the powerbar came second to the inside bar, but such order does not affect the implications of the setup itself (enter long above it).
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Tanzania, United Rep. Of Map Images
Was it an option to already have taken position above the first bar of the combi, the bullish inside bar? Opinions may differ, but that would have set up the break quite thinly; although residing in the pleasant support of the 25ema and the pattern line extension, that little bar was the first to defy the blocky pattern overhead, and not too intimidating at that; not a great marker of bullish enthusiasm yet. With the doji bar added, the situation had definitely changed for the better.
Notice also that this bar had first taken out the inside bar at the bottom, only to turn around and close high up (false low). Tanzania, United Rep. Of Map 2016.