transition pattern" (ES futures). The upside transition typically occurs against the backdrop of an oversold market; the downside transition occurs against overbought conditions.
In the illustration of the upside transition, a high book reject occurs amongst really negative TICK, indicating a selling washout. That is the momentum depression for the decline. Price thence continues to brand lower lows, only on reduced book (see bluish arrow above) in addition to higher TICK bottoms (see bluish numbers nether the candlestick bars).
The reduced selling intensity brings bulls into the market, every bit seen past times fresh, pregnant positive TICK readings (blue numbers higher upward the candlesticks). This buying is accompanied past times increased volume, much of which is initially fed past times curt roofing (rising bluish arrow). The entire designing takes on a contrary caput in addition to shoulders appearance inwards this case, only it is the book in addition to buying/selling dynamics--not the shape--that is almost of import to the shifting demand/supply equation.
This designing sets upward across multiple fourth dimension frames in addition to volition hold upward a topic of presentation at the proposed summertime seminar.
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