The simplest 1PB consists of a trend move from the first bar, i.e., at least two trend bars that break beyond the first bar (b2-b4) and then a pullback to a higher low. If the bar that began the pullback is a reversal bar (b5), then its best to take a 2 legged PB or a second entry. A mW such as b6,7,9 today can also act like a 2L pb.
Factors strengthening the 1PB signal are:
- A two legged PB or a mW PB
- strong close on signal bar
- signal bar not too large
- signal bar at ema or trendline
A 1PB that takes out the prior extreme of the day in one leg can often be held till the end of the day. A 2 legged move however often stalls or reverses at the extreme of the day and its best to exit and wait for the next signal.