If you get a chance, can you explain why the low is poor? I see 5511.75 as the LoD in H period. Next low was in G period which was 2 ticks higher. Thanks!
Firstly, the term "excess," commonly referred to as buy tails or sell tails, is characterized by a minimum of two TPO's. For a visual reference of an excess high, refer to Monday's high.
Conversely, a "poor low" (or high) lacks excess, having fewer than two TPO's. An example of this is today's session, which had exactly two TPO's at the low.
Was hoping for a serious breakdown of 5522, sellers performance is worrying!
If you get a chance, can you explain why the low is poor? I see 5511.75 as the LoD in H period. Next low was in G period which was 2 ticks higher. Thanks!
Firstly, the term "excess," commonly referred to as buy tails or sell tails, is characterized by a minimum of two TPO's. For a visual reference of an excess high, refer to Monday's high.
Conversely, a "poor low" (or high) lacks excess, having fewer than two TPO's. An example of this is today's session, which had exactly two TPO's at the low.
A TPO is 2 ticks look like per your chart book. Gotcha, makes sense now. Thanks, Smash.
Yes, my chartbooks are in 2 ticks, while my plans are in 4 ticks.