Retrace, not reversal
The second market, where the daily had broken against a rising weekly, and the extra confirmation demanded before that break could be traded.
The second market is the euro against the dollar, symbol EURUSD, and its two slow charts pointed opposite ways.
The reading
Price was at 1.0910 before the session.
The weekly is a buyer, with higher highs and higher lows over several months. The daily had just closed at 1.0895, below its last swing low at 1.0905, so the daily is a seller.
A weekly buyer with a daily that has just broken downward.
What module 36 already says about this
The retracement ladder says a daily break is a weekly pullback. So this break is most likely the weekly stepping back, not the weekly turning.
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