Category:PWT-O
Parabolic wedge top from the open, a type of BXFO, look for ORVD. Typically in a PWT opening reversal, when it starts to reverse, it goes down in a fairly tight channel for 5 - 10 bars, if instead it goes 5 or 6 bars and sideways or bounces, then it is probably NOT going to be a PWT followed by a strong bear trend (like the one below).
