![]() 2) Closes near the Top of the Range (Up bar) / Closes near the Low of the Range (Down bar) Important: The Low of a Significant Up bar defines the Support Level The High of a Significant Down bar defines the Resistance Level. ![]() Tool #4: Significant Bars They Have Two Primary Characteristics – Tool #2: Action, Reaction, Failure The Concept :ĪPKT: a Closer Look at Comparative Relative Strength Schematics of Distribution Double Top w/ Range Rounded Top Double Top Ascending Wedge Hypodermic Top Head & Shoulders Symmetrical Triangle Schematics of Accumulation Head & Shoulders / Saucer Cup & Handle Double Bottom Descending Wedge Ascending Channel Point and figure chart counts can be used to measure this cause and project the extent of its effect. This law’s operation can be seen working as the force of accumulation or distribution within a trading range, working itself out in the subsequent move out of that trading range.
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