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16B->S4 What is the necessity of analyzing point 1 as Bear Trend?
What is the necessity of analyzing point 1 as Bear Trend?
The wedge is a bear trend and started at point 1, even tho the move up hadn't finish until the top at the green arrow.
@ludopuig Maybe I didn't make my question clear. In other words, what is the basis for Bear Trend to start from point 1?Or, Why do we need to know where Bear Trend starts?
what is the basis for Bear Trend to start from point 1
From there lower lows and lower highs, so bear trend:
Why do we need to know where Bear Trend starts?
Because if you know where the PB really started, you will count the legs correctly. If you skip point 1 then you are left with a H2, instead of a H3, which will give you less confidence that the PB is finished and you can buy.
Under what circumstances, in such a form, does point 1 not belong to bear trend？
This chart is different from the prior one: