Posted 5/22/2020 09:04 (#8273140 - in reply to #8272772) Subject: RE: Key reversals
Appreciate the question as it likely is being considered by others-teaching moment. As others have said, you need a new high or low for the move and a reversal of that price on the day or week or month whichever you are watching. What I was taught years ago was that it should be done on high volume and that open interest should reverse on that day. The smart money is changing positions. Now, if you want to have something to pay attention to, look on May 11 in those Nov beans. That is Japanese candlestick doji. Not a great example as I would prefer heavy volume and a bigger range.It is kind of a type of key reversal. Doji's signal a possible change of trend. Not a solid clue but a "yellow light". Maybe "blu" will chime in- He does a good job of explaining and following these indications.