Replies to post #4968 on Garden of Good and Evil

[Wildbilly]

Technically yes, from my notes:

At LEAST 3 candles are required to complete a pivot,

sometimes 4,5,6 or more candles may be required ( after yesterday you have 5, but just your first green.)

Price pivot low - A minimum of 3 candles to complete a pivot:

1. 1st red - new low

2. 2nd red - lower low,

3. 3rd green - close above candle 2.

"Price pivots are best conceptualized with three bars. A three-bar pivot low represents support and is formed when buying pressure turns price from down to up. It is designated by a price bar with a higher low that closes above the previous bar's high, where the previous bar's low is lower than the bar that preceded it. This is true in every time frame."



- Mr. Obvious :)






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