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[[File:Wedges 6.png|thumb|602x602px]]<abbr>''The 1st pullback after the reversal attempt from a wedge bottom. Among many different variations of MTR, especially [[HLMTR]] and [[LHMTR]], there are certain type of set ups that have higher chance of success, based on various factors. [https://www.priceactionindicators.com/about/ Thomas Deutschmann] had a post [https://www.priceactionindicators.com/2020/07/29/trade-the-1st-pullback-after-a-wedge-the-w1p/ Trade the 1st Pullback after a Wedge – the W1P!] that explained a concept called W1P that was originally brought up by [https://ninetrans.blogspot.com/2011/02/wedge-reversals-and-w1p.html cadaver]. W1P is actually a special case of HLMTR/LHMTRs that cadaver narrowed it down with some specific criterias so that '''trader can use them to find the best MTR set up, and avoid less-good set ups'''.''</abbr> <abbr>''More example chart can be found here:''</abbr> ''https://www.priceactionindicators.com/2020/07/29/trade-the-1st-pullback-after-a-wedge-the-w1p/. (Credit to Thomas Deutschmann)'' | |||
[[File:20221108pa.png|thumb|602x602px|Figure 1 - [[20221108]]]] | |||
[[File:Wedges 6.png | |||
[[File:20221108pa.png|thumb| | |||
''A Wedge reversal (three or four pushes each with a new extreme) forming at the top or bottom of a trend is probably the most successful setup for a swing trade. The most crucial prerequisite for a Wedge reversal is a '''clear trend <abbr>channel</abbr> line overshoot''' and in particular a second overshoot, which essentially makes it a typical [[PW]].'' | ''A Wedge reversal (three or four pushes each with a new extreme) forming at the top or bottom of a trend is probably the most successful setup for a swing trade. The most crucial prerequisite for a Wedge reversal is a '''clear trend <abbr>channel</abbr> line overshoot''' and in particular a second overshoot, which essentially makes it a typical [[PW]].'' | ||