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Since LH MTRs are being discussed, shouldn't it say, "Without Selling Pressure, sideways is more likely than down?"
good point. seems someone already been asked same question. I want to know why too ..
https://www.brookstradingcourse.com/support-forum/38-trading-mtr-tops/text-error/#post-636
It was posted in 2020 also and got no response. I just gonna assume it should say down.
Understand the questioning, and see the position and potential confusion.
For MTR there are 2 potentials, price and time. If by price, there is selling pressure (down). If by time, then 20 bars or so sideways (which can form a variety of patterns where it might go slightly upwards), so HHMTR or LHMTR.
However, if prices go up [UP], then the trend is still confirmed and that "trendline" which must be broken by either price or time, may not have been pierced yet.
So, it can go down and be a MTR, it can go sideways, and still be a MTR, but really shouldn't go up as trend rules will still be confirmed and no opportunity for trading range or semi trading range behavior will have occurred.
Hopefully helpful if not in resolving, then in outlining a different potential view.
