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Ahh yes, your classic Romeo trivia to make us think critically over following the herd as most price action concepts are indeed counter intuitive unless you follow the right frameworks with proper back testing results and sound logic.
One of them is of course the work by Romeo: CRT, proven to work well. Simple here with the last thick green candle being CRT candle #1. Second candle, CRT candle #2, sweeps above candle #1, but closes below the high and we know just of CRT alone that if...
"CRT Candle #2 closes below the CRT candle #1, we get lower prices, close above, and we have no activated CRT".
So CRT is activated and we look to trade candle #3. And for the simplest CRT execution..
"Enter above the open of candle #3 for CRT shorts, conversely for longs"
-R (& ICT time and price theory)
TP1 is the midpoint of CRT candle #1, to end up in profit in case CRT reverses there because..
"The midrange consolidation is always a possible point of reversal"
Which is also why I likely expect a green candle there as we typically see.
Now, could CRT candle #2 be the first CRT candle of another CRT, where the final printed candle on the chart is CRT candle #2, with the high timeframe key level the FVG, and the move next being up? Technically yes. But I don't like that one for these reasons:
1⃣CRT candle #1 is always a thick and large candle.
2⃣If two CRT's oppose, the biggest candle wins.
3⃣If the first CRT hasn't played out, that one wins.
These from own experience, which is why I think the market will drop on that chart. I've drawn out the succession of candles I most likely expect. Note the green candle around the midpoint as the mid range consolidation. If you see this happening, that's good confirmation for continuation.
After completion of the full CRT targets, always leave a runner, especially when unbalanced FVG's remain.
Indications in green, relevant quotes often given by Romeo in purple and execution in purple.
Master Candle Range Theory (CRT) with this Full In-Depth Dictionary:
Only use CRT when it aligns with these Key Levels:
~ OB
~ BB
~ FVG / iFVG
~ BPR
Purge times: 3am, 6am & 9am.
Credits: @Romeotpt@marko_vrecko