8 monitor Trade Station
Terms and abbreviations used :
HH, HL, LH, LL - Higher High, Higher Low, Lower High, Lower Low
P/A or Price Action - description of price movements, i.e. a series of HH's & HL's describes an up trend
TLB - Trend Line Break, price moving above a down trend line (or below an up trend line).
TLB-retest - price returning to the level at which it broke a trend line
Divergence - Price going one direction while an indicator or indicators do the opposite
2xD - two indicator divergence...3xD - three indicator divergence
RD - reverse or hidden divergence...example: price making a HL while indicator(s) make a LL
(often it's the first HL that marks the reversal of a down trend)
Slingshot or SLING - describes a pattern in the stochastic indicator, usually from the over-sold area
MACD X - The point where the MACD EMAs can be seen to cross upwards
MACD Trend or MT - refers to the short or longer term direction of the MACD EMA lines
CCL or Consecutive Closing Lows - entry signals after the 3rd CCL prints
2B Dragon or 2B - A specific double bottom pattern characterized by features of the mythical creature...
Starting at the upper left hand side of a chart:
A 'Top-of-Tail' followed by 'rear feet and front feet' with a 'hump' in between
followed by a consolidation area that defines the Dragon's 'head'