PEAK FORMATION NOTES BY FOREXPLUGS
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A peak formation or anchor point is the turning point in a chart. The peak formation high or low is where the market makers start to move after trapping volume. We usually find trapping volume usually in level 3 or level 1 in a reset. This could be after 2 to 3 days of rise or fall but up to even 5 days. Level 3 or 3rd day of the movement of the cycle is usually very choppy. To identify the peak a multi day, multi session M & W, Head & shoulders patterns,3 hits to the high, 3 hits to the low, 22 trades, half Batman etc are formed at peaks or turning points.
Peak criteria
1. 3 Days of rise or Drop sometimes up to 5
2. 2.5-3 x ADR or exceeded
3. Overbought/oversold divergence on TDI
4. Aggression
5. Wide range swings
6. An actual m or w pattern.
7. Baseline divergences
8. EMA’s fanned out
9. Vector to create outside structure
10. Harmonic pattern at h4(harmonic patterns appear in peak
formations e.g. bat, butterfly, Gartly or crab)
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