I've spent countless hours over a span of literally years pouring over books on technical analysis in the hopes of finding that elusive "edge" that everybody's talking about. I guess we can debate about what that noble aspiration entails, but I slowly came to a realization that it wasn't to be found in any books. I won't deny the fact that most of the crap written in those one-size-fits-all, you-get-it or you-don't, manuals are worthless, but there's no denying that they are in fact crap nonetheless. Be that as it may, I did come away with a profound sense of pride in learning the common thread of success that tied great traders together in one hell of a tangled knot. Just as the most important mantra in runing a brick and mortar shop is "location, location, location", the key to becoming a successful trader is "timing, timing, timing". This brings us to the subject of reversals. In my dictionary, timing is defined as nothing other than a technique of entering or exiting a trade just prior to a trend reversal. I believe all distinguished traders are well versed in this concept. Unfortunately, this is the least understood idea among the majority of traders. Hence I would like to devote this thread solely to the discussion of market timing, aka reversal. What is your defintion of a valid "reversal" insofar as timing is concerned?