DislikedBroadly speaking, I've noticed this a few times on charts where PB's have formed against a trend. I've not noted them down enough, or tested them to be sure of this, but definitely something that I'm looking into further. If we get a PB against a trend, and that PB breaks in the opposite direction; ie doesn't confirm as a PB but breaks the tail instead; it's a good signal for the continuation of the trend. Can this be played as a reverse PB formation? More testing will tell...
PS. I did have a breakout trade on usdjpy that was taken off a BUOB,...Ignored
An interesting study indeed, Chris.
Indicators show the past. Price Action "Indicates" the future.