The Handbook of Technical Analysis + Test Bank_ The Practitioner\'s Comprehensive Guide to Technical Analysis ( PDFDrive )

The hAnDbOOk Of TeChnICAl AnAlysIs

3. Current day’s activity is above its own value area and above the previous day’s
   value area.


4. Current day’s activity is within its own initial balance and above the previous
   day’s range.


5. Current day’s activity is above its own initial balance but within its value area.
   It is also above the previous day’s range.


6. Current day’s activity is above its own value area and above the previous day’s
   range (Most Bullish Scenario).

In similar fashion, below are the six basic degrees of bearishness of any subse-
quent trend, in order of bearishness:

1. Current day’s activity is within its own initial balance and below the previous
   day’s value area (Least Bearish Scenario).


2. Current day’s activity is below its own initial balance but within its value area.
   It is also below the previous day’s value area.


3. Current day’s activity is below its own value area and below the previous day’s
   value area.


4. Current day’s activity is within its own initial balance and below the previous
   day’s range.


5. Current day’s activity is below its own initial balance but within its value area.
   It is also below the previous day’s range.


6. Current day’s activity is below its own value area and below the previous day’s
   range (Most Bearish Scenario).

figure 17.17 Profile Trend Activity Based on the Previous Day’s Value Area.