Based on the number of candles and time frame, the boxes are 2 hours and 5 mins each (25 candles x 5 mins time frame). The bottom of the second box appears to be drawn from the bottom of the 1st of candle in the box. Similarly, the top of the 3rd box appears to be drawn from the top of the 1st candle in that box. Perhaps I was wrong about calling exact tops and bottoms ;PAlright, let me divulge another unholy grail. This is today's PA. You will see that the boxes line up perfectly (eg. measured move), price and time wise. You not only know where the price target is, you also can time the move almost to the fat T. This is the miracle of "buffer zone".
Moreover, it's sensible to use the boxes as both the breakout and stop.
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Is It a Reversal or a Pullback?
- Thread starter schizo
- Start date
Daily is in downtrend, current oscillation is a bounce, whether it would lead to a reversal of daily trend or a dead cat bounce only time will tell. Thank you for your time 
I can vouch for candles. He knows his stuff.
That's obviously an old post.
You seem upset, IAN! Why are you trauling through peoples old posts? He didn't even say anything about you. You seem to be upset because he made a very good trade. No different to your claim. Only schizo makes actual calls, so only he has the right to get upset with all the hindsight gurus imho
Cheer up!
Cheer up!
Nobody wanna talk about the subject at hand anymore?
Or have Too many egos have been dented!
You're very welcome to discuss the chart I posted above
Pullback or reversal?
What's to discuss there? We can probably all agree that we're in a downtrend on the daily.You're very welcome to discuss the chart I posted above
Pullback or reversal?
Not everyone would agree that the ADX being above 40 means anything.
And of course, 'time will tell' whether this is a pullback or a reversal, but I gathered teh point of the thread was that there is a way of knowing without the benefit of hindsight.
I think your right on direction, but for different reasons. We're in a mild down-trending channel.Daily is in downtrend, current oscillation is a bounce, whether it would lead to a reversal of daily trend or a dead cat bounce only time will tell. Thank you for your time
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I think your right on direction, but for different reasons. We're in a mild down-trending channel.[/IMG]
According to OP it is possible to quantify whether one is a trend or a pullback, I am of an opinion that it's impossible to be right all the time simply because order flow changes depending on future events, there isn't always a plan in motion that can be traced.