The first ingredient is a well-defined and clear downtrend. That means Lower Tops and Lower Bottoms with a good slope and distance between them in other words a Bear Market.
As we see here, we have lower tops as T1 is lower than T2 and T3 and T4 and lower bottoms as B1 is lower then B2 and B3 and B4 showing a confirmed downtrend. Since a downtrend is more...
