Intraday Bearish Trends
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Identifying intraday bearish trends is important in order to gauge
the strength of the trend and estimate how far it will move. You
know that bearish trends tend to decline 67 to 80 percent faster
than they rise. A bearish trend that will sustain a long bearish move
over time has specific characteristics. These bearish characteristics
are seen in Figure 5.18, which shows the following:
1. There are three bars or more of lower lows and lower highs.
2. The close on the bar is near the low or below the middle of
the bar.
3. The lows and highs form excellent declining trendlines.
4. At least three bars in the trend have larger high-low ranges.
high-probability shorting 131
5. Price angle of descent is contained within the lows of the
line formed by the three major bars.
6. The closes of the three major bars are consecutively lower.
Identifying intraday bearish trends is important in order to gauge
the strength of the trend and estimate how far it will move. You
know that bearish trends tend to decline 67 to 80 percent faster
than they rise. A bearish trend that will sustain a long bearish move
over time has specific characteristics. These bearish characteristics
are seen in Figure 5.18, which shows the following:
1. There are three bars or more of lower lows and lower highs.
2. The close on the bar is near the low or below the middle of
the bar.
3. The lows and highs form excellent declining trendlines.
4. At least three bars in the trend have larger high-low ranges.
high-probability shorting 131
5. Price angle of descent is contained within the lows of the
line formed by the three major bars.
6. The closes of the three major bars are consecutively lower.