the downfall of many.
 
sehitaieeiniieianatiaaeamataed
 
Identifying the Ross Hook
Sometimes Ross hooks are 1-2-3's that occur subsequent tothe initial 1-2-3 formations that occur at lows and highs. Indeed,many of them are formed at the intermediate and minor lows andhighs that occur in trending markets. But to call them all 1-2-3'swould be to present an erroneous picture. Not all Ross hooks areidentifiable as 1-2-3's.
1-2-3's are the direct result of certain market forces at work. | |described them earlier. Ross hooks are the result of a differentmarket phenomenon. Then, too, there are Reverse Ross hookswhich are a bit more difficult to see, identify, and trade. The |number two point shown next is a reverse Ross hook
Before this book is finished, you will know how to identify andtrade Ross hooks, reverse Ross hooks, double bottom Ross hooks,and double top Ross hooks. But before | go any further, | need toshow you what these hooks look like, and also show you how theyrelate to, and often derive from, the basic and fundamental 1-2-3formation. Later, ! will show you how | utilize some of the tradingtools mentioned in Chapter 2. Just so you'll remember what theywere, I'll repeat them here: | knew how to identify a trend, | knewwhat constituted a 1-2-3 high or low, | knew how to identifycongestion, | knew the five functions of a manager, and | knew howto give orders to brokers in a forceful and intimidating way.
 
The following chart shows a 1-2-3, and then the subsequent Ross ho
41{
2
The nunber 2 pointabove is a ReverseRoss hook (Rh),
/ First, you see that the market topped out at the number 1point. That's when prices were higher than what any additionalbuyers were willing to pay. At this point, there is too much supplyand not enough demand.
. Longs taking profits drive the price down to the number 2point. They are aided and abetted by bears seeking to establish ashort position.
Shorts take Profits by buying. Renewed buying comes into themarket by virtue of bullish traders who treat the pull-back as a bullmarket correction. This creates the number three point on the chart.
There are not enough traders w ng to buy at the high prices,
so the attempt to continue the upward trend fails. The market takesout the number two point, and a new downtrend is established.
42
i rr
2
The number 2 pointabove is a ReverseRoss hook (RRh).
After prices move down for awhile, a correction takes place.This correction is caused by shorts taking profits. To cover theirpositions, they buy, thereby causing the market to rally. At thispoint, other buying may come into the market by those who thinkthe down move is about over. They may feel that prices are atsupport. Buying may also come in to the market by technical tradersand retracement traders who think “this is the time to buy."
 
The rally leaves behind a minor or intermediate low which |have called the point of the Ross hook. The shaft of the hook is thedown trend. The hook itself, the remainder of the formation,consists of the rally also known as a correction or reaction. It is thiscorrection, the move opposite to the trend, that leaves behind a"pointy" place on the chart. The correction can be from one to threebars in length. At times it can occur in a much more subtle way byhaving the correction and low occur in the same bar. Other nuancescan occur and will be shown as we progress. For now, theimportant thing is to understand what a hook is and how it looks. Itis the breakout of the hook that can earn us a great deal of money.
43The preceding chart began with a 1-2-3 high, a breakout of thenumber 2 point, and the establishment of a trend which led toahook and ultimately to a continuation of the downtrend.
Next, let's look at a series that begins with a 1-2-3 low.
 
In the following graph we see an end to se ig, which was thelow at point 1. As prices started to rise intraday, shorts began tocover in order to take profits. Their buying, aided and abetted bythe entry of longs who think this is the bottom, causes prices to riseto the number 2 point. Some longs, looking for a quick profit, beginto sell. They are joined by traders who feel that what they areseeing is a bear market rally. Prices head back down to the number3 point.
However, there is simply not enough supply at these low pricesto warrant continued selling. Prices refuse to go as low as, or evento take out the number 1 point. Instead, demand takes over themarket and bargain hunters, who are afraid that prices will moveeven higher, begin to buy. The demand is strong enough toovercome the number 2 point and thereby establish a new upwardtrend. <-Rh
Rh Mi
44
As prices rise, selling comes into the market as some longsliquidate all or part of their position. This selling, joined by thosewho feel it's time to get short, drives prices back down in what isviewed as a pull-back, a retracement, or a correction, take your picPrices move down in reaction to this selling.
 
But demand is still greater than supply, and prices are not yet
Af
too high to keep buyers away. The market moves up, taking out the
point I've labeled as Rh. This process is repeated several moretimes, until eventually we see what may prove to be a market top.
1-2-3 low are a frequently occurring event. Yet they are often noteasily categorized as 1-2-3's. Sometimes the distance betweenwhat might be labeled as a number 1 point and what might be
45
The Ross hooks made subsequent to the initial breakout of thelabeled as a number 2 point is considerable.
My early discipline dictated that if | couldn't label a 1-2-3, |couldn't trade these "pointy" places on the chart. | was missing alot of good trades.
Then | noticed that the only thing missing was that there wasnot necessarily a number 1 point. The number 2 and number 3points were always there.
I say this in an uptrend. I sav this in a dountrend.
Rh2 “ breakout
       
++ breakout
; It didn't matter where the number 1 point might be. Theimportant thing was that the formation occurred in a trendingmarket. Within reason, the stronger the trend the better, but notalways so. There were also times-when caution overruled all otherconsiderations. More of that in another chapter.
The next step was for me to thoroughly test the idea of tradingthese hooks and to simultaneously work out a managerial schemethat would enable me to cash in on their potential.
What | liked best about the concept of trading the hooks wasthat they represented truth in the market. A breakout represents atruth in the market. Once prices have broken through the point ofthe hook, they have broken out. Even if the breakout should proveto be a false breakout, the immutable fact is that Prices have brokenout — generally with sufficient force to afford the opportunity to atreast cover costs and allow the remaining time in the trade to be
ree.”
My next question may seem overly simplistic, but | had to askmyself...
“What Causes a Ross Hook?"Obviously these "pointy places” were different from the
number two points of 1-2-3 formations. It became equally obviousthat they had nothing to do with supply and demand.
46
 
 
If that were the case, there were only two things that could becausing them. One was obvious — the hooks were caused by profittaking. Whenever the market had moved sufficiently to satisfy amajority, profit taking caused the market to begin to move counter-
trend.
The other reason was not so obvious, at least not to me, andnot at that time. Today, it has become all too obvious and is asplendid way to pick the pockets of naive, less experienced traders.
At the point in my trading career where | discovered the hooks,| was almost totally unaware of the phenomenon I've come to call"the technical indicator trader.”
| had been taught classical technical analysis which involvedlearning how people traded heads and shoulders, megaphones,pennants, flags, speed lines, etc.
Also, | had been taught how to fade these traders in themarkets.
| had been taught a great deal about floor trader action in themarkets, and how to neutralize what they do.
| could generally spot an engineered move by large operatorson the floor. Then | could either participate or not according to my
choosing.
What | was ignorant of was the use of moving averagecrossovers, and technical indicators such as stochastics, RSI, andothers that were coming to be used in the markets.
Apart from an offset moving average, the only technicalindicator | had been taught was known to me as Percent C. PercentC was a very old indicator and was used to find overbought andoversold areas in the market. Percent C stands for percent of Cycle.It has since been presented as something "new" in the form of theso-called fast stochastic, which really isn't a stochastic at all, and itsflip side, Percent R, which is nothing more than the fast stochastic
turned upside down.
47If you look up the word stochastic in a dictionary, you willreadily see that the term stochastic is a misnomer.
The New World Dictionary of the American Language says,"sto-chas-tic (sto kas'tik)adj. [<Gr.stochastikos, proceeding byguesswork, lit., skillful in aiming <stochazesthai,to aim at <stochos, a target: for IE. base hastikos, proceeding by guesswork,lit., skillful in aiming <stochazesthai,to aim at < stochos, a target:for IE. base see STING] 1. of, pertaining to, or arising from chance;involving probability; random 2. Math. designating a process havingan infinite progression of jointly distributed random variables.
  
| will not argue with anyone against the fact that markets arean infinite progression of jointly distributed random variables. Butthe study which has wrongly been named stochastics is not themarket, but rather a mathematical attempt to measure momentum,divergence, and an idiotic concept called "overbought" and"oversold", on a fixed scale. It is always relative — where is theclosing price today relative to where closing prices were previously?This is precisely why the so-called Stochastics falls apart inatrending market, where it can stay "overbought" or "oversold" formany time periods beyond where the market was supposedly in the“overbought” or “oversold” condition.
Later, | will show you how to trade Ross hooks with theoriginal so-called Stochastics as revealed to me by my friend RickRedmont, but with some nuances of which even he is unaware.
Although I generally take a stance against attempting to tradewith cycles, there is enough substance to them that they may proveuseful in calculating Percent C should you choose to use it inconjunction with Ross hooks. My friend Dr. Ed Dalton hasconvinced me of this. However, you'll have to attempt it on yourown, as | have no real experience with it.
To conclude the thought | started earlier, about the causes ofRoss hooks: it was trading by technicians using technical indicators
that in part caused the market corrections that resulted in Rosshooks.
48
be ie
More than that, as you will see later, it was the incorrect use
of these oscillators and indicators that in part caused the corrections
that yielded Ross hooks.
Technical traders, thinking the market was in an overbought oroversold condition, were entering the market the wrong way, andadding to the momentum of the correction by profit takers.
In later years, with the advent (or should | say the re-inventionof Fibonacci trading, the corrections often became more /pronounced, as these traders would blindly buy or sell at theirpredetermined "magic" Fibonacci ratios, where the market wassupposed to stop going one way and begin going another.
Add to this the more recent, illogical notion that markets aresupposed to turn on moon dates, and you will know exactly how tofade these moves and stick a huge chunk of money in your pocket.
Ross Hook Definition
WHENEVER A MARKET TREND IS INTERRUPTED BY ACORRECTION, NO MATTER HOW SLIGHT, IT WILL LEAVE BEHINDA ROSS HOOK. IN A DOWN MARKET, A FAILURE BY PRICE TOMAKE A NEW LOW CONSTITUTES A ROSS HOOK. IN AN UPMARKET, FAILURE BY PRICE TO MAKE A NEW HIGHCONSTITUTES A ROSS HOOK.
IN A DOWN MARKET, IF PRICES MAKE AN EQUAL LOW,REVEALING A DOUBLE SUPPORT POINT ON THE CHART, THEMARKET HAS MADE A ROSS HOOK. IN AN UP MARKET, IFPRICES MAKE AN EQUAL HIGH, REVEALING A DOUBLERESISTANCE POINT ON THE CHART, THE MARKET HAS MADE AROSS HOOK.
This means that a double (two consecutive equal lows) low
followed by a higher low or a double (two consecutive equal highs)high, followed by a lower high, also constitute a Ross hook.
49
|There are other ways to define trends that lead up to theidentification of Ross hooks that were covered in my book Tradingby the Minute. In essence what | showed there was that Rosshooks always occur in trending markets. | showed several ways todefine a trend. Once a trend was defined, the very next correctionthat occurred resulted in a Ross hook.
What will be shown here is in no way in conflict with what |showed in Trading by the Minute. By definition, Ross hooks alwaysoccur in trending markets. In this book | show that a trend can bedefined by a 1-2-3 formation. This is precisely the same formationthat was labeled the True Trend in Trading by the Minute.Regardless of how you define the trend, a Ross hook always occursonce a trend has been defined, and indeed establishes that trend.This concept was shown in Trading by the Book in a section thatdealt with a technique for entering an established trend. Eachsubsequent Ross hook serves only as additional confirmation of thetrend, until such time as the trend is exhausted.
 
It becomes crucial, then, to know when you are in a trendingmarket.
| must show you a most elemental way to identify a trend.
50
Chapter 4Identifying the Trend
| mentioned earlier that one of the tools available to me in myearly trading was one that clearly identifies the trend. The toolsallowed me to lock onto a definite set of rules. Either the marketwas trending or it was not, according to my set of rules. Now |want to show you what those rules were. They are still correctafter these many years. They were utilized before | ever begantrading, and they worked as well then as they do now. Is theresome sort of magic about these rules? Definitely not. Their valuelies in the fact that they afforded me a concrete definition of whatconstituted a trend. As long as | followed the rule, | could safely
assume the market was trending.
  
Did the rule work one-hundred percent of the time? No! |have not yet found a perfect way of trading. The rule worked mostof the time, and that was sufficient for me.
The Rule
A market had to move in a single direction, for instance up,from a low to a high, or down, from a high to alow. Once themarket was in motion, it then had to react, or correct sufficient togive me a connecting point for a trend line. This connecting linewould have its inception at the original high or low, and its terminuswould be the reaction high or low. This concept is best shown by
illustration.
 
51HIGH -!CORRECTING >|
 
When prices would take out the extreme of the low bar in thedirection of the trend line as shown below, | would then assume atrend had begun. As stated, this was not a perfect method for
identifying a trend, but it is the one | use when | want to trade Rosshooks exclusively.
 
 
 
Over the years, this has proved to be an adequate andexcellent way to determine a trend.
Before you race out to start trading this way, please realizethere is more to this concept than what I've just shown. Moneymanagement and some filters need to be applied. For now, | simply
want you to begin grasping the concept and the terminology that itis my habit to use.
52
 
Once the trend had begun via the rule, | could then beginlooking for and trading Ross hooks.
The hooks came only after the trend was in effect.An Important Concept
ROSS HOOKS OCCUR ONLY IN TRENDING MARKETS. Thereare plenty of "pointy" places on a bar chart, but not all of them areRoss hooks, It is essential to your trading them that you understandthis.
Those hooks which occur in trending markets will remain asvalid hooks. Often, they may be taken out more than once.
Now, let's look at the difference between a Ross hook and anyother "pointy" places in a market. Remember, they can occur onlyafter the trend has begun.
| have purposely chosen a chart with some very difficult areasto define. Each letter labeling a particular price bar was placed therebecause at the time that bar was made, it was a pointy place on thechart.
The lines drawn connect either a high or a low to a correction.
The pointy places were either local highs or local lows at the timethey were made.
53 
We begin two bars prior to point "A," which was a pointyplace on the chart. It was not a Ross hook. Why? Because untilpoint "A" would have been taken out by prices, there would be no
trend.
Point "B" would have constituted a Reverse Ross hook had theuptrend begun at the time it was made. Since there is also nodowntrend in effect, point "B" cannot be considered a regular Rosshook. In other words, had there been an uptrend in effect, "B"would have been a reverse hook. Had there been a downtrend ineffect, "B" would have been a regular Ross hook. As is, "B" wasneither.
Point "C" was a Ross hook. Why? Because it was made afterthe trend had begun by virtue of the move up, the correction bar,and the taking out of point "A". If point "C" would be taken out byprice in an uptrend, we would want to be a buyer, preferably usingthe Trader's Trick entry (to be explained in a later chapter) to get inearly.
54
Point "D" was not a Reverse Ross hook. Why? Because itwas made while the market was in congestion. The congestion wasin effect when bars "A"-"D" gave three closes and an open all withinthe trading range of the bar preceding bar "A". Point "D” isespecially important, because it, together with point "B," constitutea double support point. If Point "D" is taken out, it would be asignificant event worthy of notice.
Point "E" was a Ross hook. Why? It was made in adowntrend. If it would ever be taken out, we would want to be a
seller.
 
| my ,ye
Point "F" was not a Ross hook. Why? Because until priceswould have taken it out, there was no uptrend in effect. Point "F"was like point "A".
Point "G" was not a Ross hook. Why? Because it did notoccur in a trend. If point "G" were to be taken out, a trend wouldbe in effect. Until then, it was simply the flip-side of points "A" and"F". Point "G" was the equivalent of point "B".
However, point "G" was important because it gave aconnecting point from point "E."
55Point "H" was a Ross hook. Why? It occurred in a defined
trend. Once point "F" was taken out, the trend was, by definition,in effect.
Please note that as prices moved toward point H, the hook atpoint C was taken out. We would have wanted to be in the marketat or before the breakout. How to get in earlier than the breakoutbe discussed in a later chapter.
 
Point "I" was a Reverse Ross hook. Why? Because it wasmade in a trending market, in this case an uptrend. The trend wasput in effect when the bar preceding bar "H" took out the high atpoint "F". If point "I" were to be taken out, we would want to goshort. It also gave us a connecting point from point "G."
Point "J" was a Ross hook. Why? It was made in a defined
uptrend. The trend was put into effect at the taking out of pointao
 
. Point "K" was a Reverse Ross hook. Why? It was made inadefined trend, in this case an uptrend. It also gave us a connectingpoint from point "
 
56
 
Point "L" started out as a potential Ross hook. Why? Becauseit was made in an uptrend. Point "L", together with point "J",constitute an important double resistance point. If they are evertaken out in an uptrend, we would want to be long. Doubleresistance hooks and double support hooks are treated the same assingle pointed hooks. Taking them out is a tradable event.However, subsequently point "L's" status as a Ross hook is nullifiedwhen it becomes part of a four bar congestion beginning with thebar after "J." If a bar that would ordinarily make a hook is also thefourth bar qualifying for congestion, the congestion takesprecedence and you do not have a hook. In this case "L" is nullified."J" remains as the Ross hook.
Point "M" was not a Ross hook. Why? Because it was notmade in a trend.
Point "N" was not a Ross hook. Why? Because it was thesixth bar of a congestion area. However, point "N" was importantbecause it gave a connecting point from point "L.
Point "O" was not a Ross hook. Why? Because it was theseventh bar of a congestion area. ‘
Point "P" was not a Ross hook. Why? Because it was theninth bar of a congestion area. However, point "P" was importantbecause it gave a connecting point from point "N".
Point "Q" was a Ross hook. Why? Because it was made in adefined downtrend. The taking out of point "O" established thetrend.
  
Point "R" was not a Ross hook.*Why? Because it was notmade in a defined uptrend. Point "R" is like point "A".
Point "S" made a higher high, taking out the high of theprevious day. That gave a connecting point from point "R".
Point "T" is a Ross hook. Why? Because it was made in adefined downtrend.
Before | go any further, | must explain how | was taught toidentify congestion.
58
Chapter 5Identifying Congestion
One of the concepts | learned in the earliest years of mytrading was how to know when I was in congestion. | was taughteach of the concepts | will present, the most recent by my traderfriend, Neal Arthur Muckler. I'll begin with that one.
Any time prices close on four bars, within the confines of therange of a single price bar and subsequent to that bar, you havecongestion. This is regardless of where the highs and lows may belocated. The single price bar may be termed a measuring bar.
You will have to closely and carefully study the charts thatfollow. Congestion can be very subtle in appearance. Often thedifference between congestion or trend is the positioning of a single
open or close.
I <= Congestion |
|
Congestion =>
| have added to this method a concept of my own. Any timeprices open, close, or both on four consecutive bars, bothsubsequent to and within the range of any preceding singlemeasuring bar, you have congestion, provided that the bar havingonly the open inside the applicable range occurs before a correction
is made.
59An inside open and close on the same bar count as onetowards the four necessary to define congestion.
Let's take a look at this concept.
<- Correcting bar
Not<= Congestion
Congestion => t
In the first instance above, we do not have congestion becausethe close of the bar following the correcting bar did not occur withinthe range of the measuring bar.
In the second instance above, we do have a congestion. Acorrection has not occurred, and we cannot initiate a trend line untilit does. Keep in mind that the four bars defining congestion must beconsecutive. There can be no intervening bars.
Just to be sure that you get the hang of it, let's try it againshowing almost identical formations so you can see the difference.
\
r Comeecting bar
<= Congestion
N\
Fr Correcting bar
NotCongestion =>
60
 
The only difference between these two formations is theposition of the close on the last price bar.
Because we have had a correction, all bars must have the closewithin the confines of the range of the very first bar in order for usto define this situation as congestion.
By drawing an additional bar on the chart we can see thedifference that would be made in the decision making process.
In the first instance, the additional bar produces no Ross hook.Why? Because the higher low of the last bar took place in what wehave defined as congestion.
61In the second instance, the additional bar does produce a Rosshook.
I <= Congestion
NotCongestion =>
<- Rose nook
Why? Because in the second instance, the higher low of thelast bar was made in what we have defined as a trending market.
Now, to further show you this concept, look at thecombination of points "K" through "M" on the chart from thePrevious chapter, reproduced below. Even though "M" closed belowthe range of "J," the fact that "L” made a new high and then closed,dropping back into the trading range of "J", tells us that Prices arestill in congestion. In addition, we now have congestion by virtue ofalternating bars, which will be discussed next.
RiP
ctn{| } { I, Now it's time to look att D { I | another way to know when| | we are in congestion.
62
 
Any time we are not making higher highs and higher lows orlower highs and lower lows, and we can see four alternating bars, attimes coupled with inside bars, at times coupled with dojis, we havecongestion. Alternating bars are ones where prices open lower andclose higher on one bar, and open higher and close lower on thenext. Inside bars look like this:
<- Inside Bar
Dojis are bars where the open and close are at the same priceor very near to the same price, yielding a bar that looks like this:
bination of four of these is congestion.any cor me This. too, is congestion.Adojt may be unod as aCiiacard For alternatingPeira. See below.
LY
A combination of alternate closing high-low, low-high pairs iscongestion.
_
"Pointy" places made when the market is in congestion are notRoss hooks.
63The first bar of the congestion may very well be the last bar ofwhat had been a trend. A congestion may look similar to any of thefollowing, as long as it consists of four or more bars:
a]il if : l 1 MH
aise psciee BeSengrasia.Sresestit a
bet| fy.
filternation of — Cpngestign by,hish-low pairs. giteroation of
Frequently congestion will start or end with a doji. Frequentlycongestion will begin or end with a long bar move, or a gap.
Another way to identify congestion is when you see /\(\ or \/\/on the chart.
The smallest possible number of bars that can make up thisformation is four. Let's see how this can be done.
{ we What we have here i= an open higher close lower
followed byan open higher close lower, followed by an open| lower close higher sequence This forma a Cw.
Idealized \“N\7!sand “N\ANs
Here we have an open lower close higher,
followed by an open higher close lower, folloued by
an open lower close higher, followed by an open higherclose lower sequence. This forme an ~~.
64
{following:
What we have here is an open higher close louver,followed by an open lower close higher, followed bsan open higher close lower, followed by an openlower close higher sequence This forms a \\’.have an open lower close higher,fotlosea by an open higher close lower, followed
Sloss lower sequence. This forms an “WN.
If we were to get a formation that looked like the following,the Ross hook would be as marked. If that hook is taken out, wewould want to be long. Notice that the bar that created the Rosshook was the last bar of the trend and the first bar of thecongestion.
Rh —
|
|
eT cement1
|
|
|
)
}{ prior to congestion.
Now, let's see if you're really getting this.
Rh__
Tlhy tl! ||
| There is a second Ross} hook formed duringt the congestion. Do youknow where it is, and
65The Ross hook is as marked below.
Rh Rh
tt
| 3¢ Correction
»
a 1-2-3 followed by a Rh, when occurring inongestion, gives a new Rh. The new Rh supe: diboth the old Rh, and the congestion. A taking owt,of the new Rh would be a tradable event.
b Note: ; A 1-2-3 followed by a breakout of the #2 point, thatsubsequently results in a Ross hook, supersedes ai iprevious Ross hook. ° ny congestion, oF
The price bar labeled "b" made a new local low. The take outby prices of the local double resistance, "a" and "b", is a significantevent. "a" and "b", together, constitute the number two point of a1-2-3 low occurring in congestion.
The new Ross hook represents an even more significantbreakout point. Combined with the old Rh, there is significantresistance, and within a few ticks, the two constitute a double top.If prices take them both out, you would normally expect a relativelylonger term, strong move up.
Rh Rh
tT
| 3¢ Correction
——»
J A 1-2-3 followed by a Rh, when occurr i;f incongestion, gives a new Rh. The new Rhboth the old Rh, and the congestion. A faking ootof the new Rh would be a tradable event.
66
| use the term "relatively" here, because the intensity and theduration of the move would be relative to the time frame in whichthe price bars were made. Obviously such a move on a one minutechart would hardly compare with an equivalent move on a daily
chart.
While we are looking at the above chart, there is somethingelse of importance to notice. Prices retreated from the resistancepoint, thereby creating the second Ross hook. This represented afailure to break out. This failure is why Reverse Ross hooks areimportant and will lead into the next chapter.
Before leaving this chapter, let's give you a brief review of thevarious congestions. All of the three following conditions that definecongestion must occur without consistently making higher highs or
lower lows.
Congestion by Opens/Closes: Four consecutive closes or openswithin the range of a measuring bar. If opens are used, there can beno correcting bars before or coincident with the bar in which the
open is used.
Congestion by Combination: A series of four consecutive dojis, or atleast one doji and any three alternating bars. The doji is a wild cardand can be used to alternate with any other bar. If there are threenon-doji bars, one of them must alternate high-to-low with the other
two non-doji bars.
Congestion by Alternation: A series of four consecutive alternatingopen high - close low, open low - close high bars in any sequence.This definition includes Congestion by High/Low pairs.
67Chapter 6
Trend Reversals
Rh RiN < resting onder to go, tongab Trader’s Trick to