The first tested pivot high A is enlarged. It
showed strong bullish momentum for the following reasons.
1. The break-out above the previous swing high went a good
distance before a downswing took over. The greater the
distance the market went beyond the last swing high, the
stronger the bullish momentum.
2. The first bar that broke the resistance closed above it. This is
a sign of bullishness.
3. Price cleared above the previous pivot high. When there is a
gap between the price bars and the resistance level, we say that
price has cleared the level. To clear a resistance level, the bar
lows must be higher than the resistance.
In all, the tested pivot high A showed strong bullish momentum.
June 8, 2022 2.7K 4
