Where is the most typical place to find a two-legged correction on the charts?

Discussion in 'Technical Analysis' started by shots fired, Mar 27, 2013.

  1. Is a failed break-out a typical situation for a two-legged correction to occur? Say, for example, price is in an up-trend, and then begins trading in a range for a while. A failed break out would be when price attempts to break out of the range to the upside. Would a two-legged correction, then, be expected after the failed break?