Five (5) Day Down Pattern (5DD)
Market pattern based on a reversal lasting five days.
Five days of lowers Lows and Highs
Create a Trading Frame from highest High to Lowest Low
Initial preservation Stop: 5¢ below current Low
Purchase Price: 5¢ above re-test of the five-day Low (ie. current day’s High)
Potential targets: Re-test of the five-day High (ie. High of the Trading Frame)