03 September 2008

Reverse Upthrus



Reverse Upthrust.
Users of TG will not find this in their software. However I do find it a useful indication.
Just like the Upthrust bar we will find in a bearish move a High volume wide range up bar with the low chartering into new lows and the closing will be near the high. This is a good sign of strength returning and you find the trend reversing almost immediately.

The reverse Upthrust is rare and is found rarely at bottoms. Finding the bottom is more difficult than finding the Tops. Most of the time the bottoms will see stopping volumes, some sideways moves and multiple tests before we see a reversal of the trend. It is also common to see consolidation bases at the bottoms.

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