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2b

2B Trading PatternIn an uptrend, if a higher high is made but fails to carry through, and then prices drop below the previous high, then the trend is apt to reverse. The converse is true for down trends. This observation applies in any of the three trends; short-term, intermediate-term, or long-term. A 2B on a minor high or low will usually occur within one day or less of the time the high or low is made. For 2B's on intermediate highs or lows preceding a correction, the new high or low point will usually break within three to five days. At major market turning points, long-term 2B's, the new high or low will usually break within seven to ten days. In the stock market, after the new high is made, the failure to carry forward usually occurs on low to normal volume, and the confirmation of a reversal occurs on higher volume. The above can be found on the internet, just look up 2B chart pattern. I would usually recommend your default as being, sell low, buy lower. & buy high, sell higher. My next trading mantra would be that double bottoms are not Support, and double tops are not Resistance. They are where the stops are. And therefore a major target. But every now and then the market does turn. After a period of impulsive moves, the market comes to rest and goes into a consolidation. It may make one last attempt at continuing the prevailing trend, only to find there are fewer market participants willing to push it on. This is when you look for 2B's
UEducation
by Macrobriefing
MCR.ASX Trend ends in a 2B and heads back upThis is a long term chart, but long term plays are always pretty good to sit on. There was a massive long term trend that ended once it put in a 2B (A low, and then a higher low) which created a point for the new trend to begin. As soon as the price action has crossed above the trend line it has hit its head again the point which the price fell off the chart before it hit its all time low. This is a significant price point and given the price action right on this line forming a flag this is a pretty bullish signal. Price has already crossed this resistance level so the peak of the flag will become our break point. 0.68 if you're hungry, but 0.73 if your playing it safe. Stop is at 0.58. Its important to note that this could mark the beginning of a longer term trend which I've marked with purple.
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by MadButcherWA