What timeframe would one look at for this
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Every timeframe.
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So if the daily closes today around 6170 or higher it’s be considered a trend reversal ?
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Yup, that's why I mentioned always look for 3 swing points before calling a break in trend.
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You, my sir, need a steemit account
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when an ABC pattern fails, this is technicaly the point where a new trend is established
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some traders are really bulish for the moment... but for a clear break of the downtrend we should have a higher high too (around 8400?) or the higher low is enough?
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It helps me to think of the term failure swing. Fractals print at the Peak, LL, and LH (Uptrend) meaning momentum slowed and price failed to swing higher. Once it drops below the LL it can be confirmation trend is reversed. Thanks for the helpful graphic.
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