Trader Vic Methods Of A Wall Street Master By Victor Best

Price attempts to return to its previous extreme (high or low) but fails to reach it.

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: In an uptrend, price makes a new high but quickly drops back below the previous high. Price attempts to return to its previous extreme

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The price then drops and breaks below the previous "minor rally low." Once this third step happens, the trend is officially reversed. The "2B" Rule (The Fake-Out)