Reversal when price does not return to high within the same amount of time as the largest correction within the previous trend.
Largest (and only) correction in the uptrend was 7 hours
After a new high, price fell and did not correct within that same time frame - go short
razorboy wrote:figuring out this riddle is what is holding me back!!!
First box - shows the biggest correction ( biggest advance that returned to its low - biggest retrace of the uptrend - and bounced) in the uptrend and the time - 7 bars
next box is 7 bars as well
In the counter trend, you are looking for price to fall below the low of the biggest correction in the uptrend, within the same amount of time that the correction took to complete itself...........MightyOne wrote: YO HO YO HO THE PIRATES LIFE FOR ME!
Barry flavored TRO: