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I have searched the glossary, but they're not there. I've seen Al mention these terms in the daily reports. I am guessing minor wedge is one where the last leg is too strong, so it might need one more leg, but I'm not sure what a minor DT / DB is.
I don't remember seeing them in the course.
Richard, would it be possible to ask Al to add these terms to the glossary? Thanks.
Hi PB,
Yes, I have noticed Al using the minor adjective quite a lot recently. IMHO it reflects a hindsight assessment so not really needed, as it can raise queries. 🙂
The Glossary does cover these situations under the "minor trend reversal" topic so guess Al might not be keen on adding more, but I can ask him. If we did add "minor..." it could result in quite a number, so perhaps modifying the "minor trend reversal" topic would be a better solution.
I see. So anything minor is basically resulting out of a strong leg which will probably give at best a minor bounce, and the original strong leg should have at least one more small second leg. That makes sense.
I am guessing minor wedge is one where the last leg is too strong, so it might need one more leg, but I'm not sure what a minor DT / DB is.
The way I understand it is that a minor pattern is less likely to result in what this pattern usually results in. For example, if there is a wedge bottom in a strong bear trend, this pattern will be less likely to result in TBTL sideways to up than a wedge bottom in a trading range or bull trend. In the strong bear trend, the directional probability down is too high to achieve a 75% probability of a breakout above the wedge bottom bear trend channel line, making the pattern minor.
Hope that helps, Andreas
