Chevron-Texaco (CVX): Daily Bullish RSI BAMM Trigger Bar

In the Chevron-Texaco example shown in Figure 6.18, the RSI BAMM Trigger Bar is the third bar from the prior low. In these cases, the typical RSI BAMM Confirmation Point occurs at the 1.13 extension. Although there is room for interpretation, this example of the Chevron-Texaco shows an ideal situation.

Figure 6.18.

Unlike the case of the 1.618 extension, any situation that is not the extreme low will normally employ a 1.13 extension as the minimum RSI BAMM Completion Point.