Tuesday, December 03, 2013 4:27:38 PM
Is the writer referring to the "OHLC price bars" ?
http://stockcharts.com/h-sc/ui?s=IACH&p=D&yr=0&mn=1&dy=0&id=p06624150904
the 3 to 5 bar decline rule:
is what I read once in an Oliver Velez book.
After a stock declines 3 to 5 bars,
he teaches his traders to buy
1/8th above the previous high of the last bar.
But this is after the stock has risen
above the 20 and 40 MA.
The census is that neither the Bears or the Bulls
ever win 3 to 5 battles in a row.
http://stockcharts.com/h-sc/ui?s=IACH&p=D&yr=0&mn=1&dy=0&id=p06624150904
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