SIMPLY:
A trend is when you get new highs every 5-bars.
A trend is weak when you are not making a new high after 5-bars.
An uptrend is weak when you are below the most frequent price.
In this case, FB hasn't made a new high in 8 days.
FB is below the "most frequent price" since it peaked 9 days ago.
FB disconnected from the most frequent price last Thursday, and the most frequent price had 6 days of trading.
FB can decline for 6-days. Day1 was Thursday.
Measure the price range around the "most frequent price" and use that for targeting. See 64 area (red arrow).
TIm 9:46AM EST 3/24/2014
A trend is when you get new highs every 5-bars.
A trend is weak when you are not making a new high after 5-bars.
An uptrend is weak when you are below the most frequent price.
In this case, FB hasn't made a new high in 8 days.
FB is below the "most frequent price" since it peaked 9 days ago.
FB disconnected from the most frequent price last Thursday, and the most frequent price had 6 days of trading.
FB can decline for 6-days. Day1 was Thursday.
Measure the price range around the "most frequent price" and use that for targeting. See 64 area (red arrow).
TIm 9:46AM EST 3/24/2014
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