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Key Reversal Bottom: A Key Reversal Bottom (Signal Bottom, Closing Price Reversal Bottom) can be defined as follows: following a prolonged move down in terms of price and time, a market has a lower-low than the previous time period, a higher-close, a close above the time period’s mid-point, and a close above the opening. If this occurs, consider this a sign that the market has bottomed and that the trend is getting ready to turn up.
This Key Reversal Bottom definition may be different than other definitions of this pattern because I use references to the opening and the mid-point.
Key Reversal Top: A Key Reversal Top (Signal Top, Closing Price Reversal Top) can be defined as follows: following a prolonged move up in terms of price and time, a market has a higher-high than the previous time period, a lower-close, a close below the time period’s mid-point, and a close below the opening. If this occurs, consider this a sign that the market has topped and that the trend is getting ready to turn down.
This Key Reversal Top definition may be different than other definitions of this pattern because I use references to the opening and the mid-point.
