Narrow Range Bar
A trading bar with a smaller price range relative to the previous bar’s price range or a smaller price range as compared to an average of a period of previous bars.
Neckline
During the development of a reversal or consolidation pattern, a trend line may be drawn along the support or resistance that are implied by the troughs or peaks around the head and from where the shoulders have developed. Eventual break of the neckline confirms completion of the pattern.
Normalized
The adjustment of an indicator to have readings between 0 and 100 or -100 and +100.
Numbered Phase
(Elliott Wave)
Some analysts refer to the “numbered phase”. This refers to the section of the wave structure that forms the main direction of the trend. This is the five-wave moves including the two corrective waves, 2 and 4.
