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Originally Posted by codersguru
I've found something that I think it's useful to share!
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Thank you for this document. However, the writer refers to the
AscTrend3 in here - I am interested in determining whether the present pull-back is either a retracement or a directional change.
He says that one should use the
AscTrend3 on the 30-m chart where the AscTrend3 "
does a good job in distinguishing a retrace from a reversal."
Trust you (or anyone else) may be able to assist. Thanks in advance.