First Rise / First Failure

First Rise / First Failure offers traders an early method to identify reversals following new heights or lows in any time period. FR / FF identify the first 100% violation of the dynamic trend move within the timeframe of interest. In order for any trend to continue, price movement should find support near the 62% retracement, measured from the starting point of the final blow that pushed the price of a new high or low. From this retreat, a trend must base and expanding the test before you can break out to further extend the highs and lows.