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An Upward Trend Let’s say the first candle is white TC. Then the trend stays upward for as long as the closing price of one of the next candles stays above the opening price of the first white TC. If one of the following candles is also a white TC, it one takes over from the previous TC and the trend-stop level goes up to the downside of the body of the last TC.
We continue this process until we have a close under the body of the last white TC. Above, we have three white Trending Candles. The trend-stop level keeps going up from the bottom of the body of the first TC to the bottom of the second TX and up again to the bottom of the body of the last white TC. |
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