GLOSSARY
Critical Range: The price range encompassing the Upside pivot and the Downside pivot. It is a directional range that when violated determines the markets initial direction.
Upside Pivot (UP): The most important directional resistance level for the trading session. The lid or ceiling containing any sustained advance. A violation of said pivot is a clear buy signal for the session, with #1 target the initial objective for the surge.
Downside Pivot (DP): The most important directional support level for the trading session. The base or floor supporting any sustained decline. A failure of said pivot is a clear sell signal for the session, with #1 target the initial objective for the dip.
Directional: The pivot which the market is expected to rotate off. The pivot point on the teeter-totter were the markets bias shifts from up to down within the Critical Range.
Reversal Number (R) : The trading sessions immediate trend bias. Rallies below the R should be sold and breaks above the R bought.
Continuation Momentum Numbers +c, -c: The Continuation Momentum numbers are the points in which the market must close above (+c) or below (-c) to signal follow through in the coming session.
APMD: Average Price Map Distance (APMD) is the average distance between support and resistance levels on the PRICE MAP.
Resistance: Price levels above the current market price that will resist an advance.
Support: Price levels below the current market price that will support a break.
Target: The expected price target on a breakout of the Critical Range.
Objective: The expected price objective for a trend move for the trading session.
Major Level: A price map support or resistance level with a weight of at least 2 **s.
Violation – A violation is positive action referring to an upside breakout above a PRICE MAP level.
Failure – A Failure is a negative action referring to a downside breakdown below a PRICE MAP level.
Sustained / Held – Refers to when a market trades above or below a PRICE MAP level and continues to trade above or below that level.
Release – A sharp emotional sell-off.
Breakout – A neutral sideways market violates its consolidation extremes providing a new trend move.
Trend Move – A sustained price movement either up or down.
Digestive – Sideways directionless trading action. This type of price movement typically occurs after a sharp market rise or fall and is considered a continuation neutral term.
Consolidation – A corrective neutral posture for the market. No directional bias.
Extreme – The edge of the envelope or extreme price point for a trend move. The exhaustion point of a trend move.
Touch and Go – A phrase used to describe a quick test of support and resistance, followed by an immediate reaction. Typically only one print will occur at the extreme.
Lock and Load – A phrase used to alert traders to be ready to short sell at a specific price point. A sharp move into and rejection from resistance is expected providing a "One shot" trade opportunity.
Swing – Big sideways action. Directionless.
Choppy – Erratic sideways trading conditions. Typically accompanied by false breakouts and low volume.
Acceleration – Fast trading conditions and price movement.
Momentum – Underlying positive or negative action or trend.
Follow Through – A continuation of the current trend.
Set-back – Referring to a break in a positive trending market.
Pull-back – Referring to a rally in a negative trending market.
Build a Base – A phrase referring to a weak or negative trending markets attempt to build a support base for a rally.
