PS - Preliminary Support (buys provide a bounce to slow move down)
SC - Selling Climax (Buys absorb remaining sells , end of panic sell off)
AR - Automatic Rally (Price rise caused by volume buys and lack of sells on the orderbook)
ST - Secondary Test (retest of support, may occur multiple times)
Shake Out - Volume sell to drop price encouraging inexperienced traders to close their longs opened at ST and possibly cause additional panic sells
Spring - Buy orders filled from Shake Out and price rises sharply and orders clear remaining sell orders
Test - Test of available supply. Low supply results in price mark up breaking previous resistance levels
SOS - SIgn of Strength (Often a result of high volume buying or fomo after a spring)
LPS - Last Point of Support (Test for Resistance / Support flip, Puillback)
BU - Back-up - After a jump across the creek move, the price often experiences retest of support and will pull back close to the low after the SOS
TR - Trading Range (Caused by profit taking at the end of the SOS and re-accumulation at the new price range)
Length / duration can vary.
Set range high as next high after SOS
Set range low as LPS after SOS
SC - Selling Climax (Buys absorb remaining sells , end of panic sell off)
AR - Automatic Rally (Price rise caused by volume buys and lack of sells on the orderbook)
ST - Secondary Test (retest of support, may occur multiple times)
Shake Out - Volume sell to drop price encouraging inexperienced traders to close their longs opened at ST and possibly cause additional panic sells
Spring - Buy orders filled from Shake Out and price rises sharply and orders clear remaining sell orders
Test - Test of available supply. Low supply results in price mark up breaking previous resistance levels
SOS - SIgn of Strength (Often a result of high volume buying or fomo after a spring)
LPS - Last Point of Support (Test for Resistance / Support flip, Puillback)
BU - Back-up - After a jump across the creek move, the price often experiences retest of support and will pull back close to the low after the SOS
TR - Trading Range (Caused by profit taking at the end of the SOS and re-accumulation at the new price range)
Length / duration can vary.
Set range high as next high after SOS
Set range low as LPS after SOS