Replies to post #30689 on Triple 000 and Sub-penny Chart Plays

[trader53]

Is the writer referring to the "OHLC price bars" ?

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

[trader53]

WNTR 0.0093 - the 3 to 5 bar decline rule

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.

Courtesy of GOSSSAMER

http://stockcharts.com/h-sc/ui?s=WNTR&p=D&yr=0&mn=2&dy=0&id=p16821326465