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V.18:11 (46-53): Two-Day Price Patterns by Martin J. Pring
V.18:11 (46-53): Two-Day Price Patterns by Martin J. Pring
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Two-Day Price Patterns by Martin J. Pring
Coming at the end of a trend, these two-day patterns are solid signals of a reversal. Heres the last of Prings three articles on price patterns.
Two-day price pattern formations, unlike others we have discussed, take just one or two days to complete and have a relatively short-term significance. I refer to them as one- or two-day patterns, but the wording could just as easily apply to weekly or monthly bars. I have even referred to this phenomenon on intraday charts as one-or two-bar price patterns, because that is what they are. In retrospect, it is probably better to use the generic bar rather than individual timeframes.
Coming at the end of a trend, these two-day patterns are solid signals of a reversal. Heres the last of Prings three articles on price patterns.
Two-day price pattern formations, unlike others we have discussed, take just one or two days to complete and have a relatively short-term significance. I refer to them as one- or two-day patterns, but the wording could just as easily apply to weekly or monthly bars. I have even referred to this phenomenon on intraday charts as one-or two-bar price patterns, because that is what they are. In retrospect, it is probably better to use the generic bar rather than individual timeframes.
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