V top and bottom

V top or bottom looks like V letter. V bottom is a low which is formed in the end of a decline (coming up now again). V top is formed by a significant advance followed by a big decline.

Key reversals

Key reversals can mainly be of most use to (upcoming?) short term traders like me. Key reversal upday is a day where there is a lower intraday low than the previous day’s intraday low followed by a close Above the previous day’s close. Key reversal downday is a day where the intraday high is higher than the previous day’s high followed by a close Below the previous day’s close.

Leigh Stevens likes to set some more restrictions to this and gives a bit different definitions.

Upside key reversal day is a day when there is a lower intraday low than the previous day’s intraday low (or two previous days) and where the close is above the high of the previous day (or two days). Downside key reversal day is a day when there is higher intraday high than the previous day’s (or two days) intraday high and close is below the previous day’s (or two days) intraday low.

Note that the time period is not that limited, it can also be Upside key reversal week etc.

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