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What is definition of the 70% rule?
?Something like....
(Any channel BO (up or down) has a 70% of reversing to the opposite side of the channel within 5-10 bars on the HTF that shows the pattern)? Does it have to BO or is it 70% reversal to opposite side if touches the edge of the channel?
("Trend Channels" only?
Not wedges, TR, or other bars contained between 2 lines?)
Does it have to BO or is it 70% reversal to opposite side if touches the edge of the channel?
You can see in the slide that it is both. First the price breaks above the trend channel line and then, in slide 31, you see highlighted that the price touches the trend line and then break below in a sideways move.
("Trend Channels" only?
Not wedges, TR, or other bars contained between 2 lines?)
Again, the pattern in the chart is a wedge, not a parallel channel. As you can see in all the slides in this module, there are many many ways to draw lines (slide 28 is the same chart with different trend channel line drawn in).
What is the official definition of the 70% rule?
The one shown in slides 30 and 31:
70% Rule:
Any channel BO or touch of line, in any channel including TR, Bear, Bull, tight, broad, flag, wedge, parallel, triangle has a 70% probability of reversing to the other side of the channel within 5-10 bars on the HTF showing the pattern.
