分类:TBTL

TBTL, ten bar two legs. Approximately Ten Bar correction with at least Two Legs. Obviously, not every pullback is a TBTL correction, for e.g. the pullback during the early stage of a strong trend usually has very small pullbacks. Traders should expect TBTL correction when the trend has gone for a while, or late in the trade, where more bulls are either taking profit or only looking for scalping profit, and more bears are will to short, i.e. more TRPA, instead of a hoping for TBTL during the early stage of a trend, for e.g. the BO phase. TBTL can be used in either in a reversal trade or with-trend trade.

TBTL in Successful Reversal[编辑 | 编辑源代码]

Just like in a successful bull trend reversal (MTR) (the probability of a swing up is usually about 40%), the general goal is 10 bars 2 legs, which means a swing that has at least Ten Bars and Two Legs (TBTL)^[1]

TBTL in a Correction[编辑 | 编辑源代码]

It is also important to be aware that, even if the bull reversal fails, there is still the reversal tendency that bulls will try for 10 bars 2 legs, for e.g. on 20221213 during bar 15 to bar 26, it is a TTR at EMA but at the same time it is also a 10 bars two legged correction (though not clear), i.e. an attempt by bulls to reverse the selloff. Another way to look at it is, after a sell climax, there will be profit taking at major support, which also contributes to the correction, or possible reversal if both bulls and bears are on agreement.

20221213

Another example of 10 bars correction is on 20221215: