The TGIF setup is primarily on the basis of a retracement to 20 to 30 percent of the weekly range. Now, I have students that have known this for years, way before I made it public on my YouTube channel here, but this has served me well even since 1998. You won't see this pattern anywhere; it's not talked about in any of the books. But Power three on a bullish week, when we form a high (and I'll talk about what the high was likely to be formed around), but once you have a high formed or what would be a tradable high, one that you suspect will be the potential high of the week, then you can anticipate a run back down into 20 to 30 percent of the weekly range. Okay, so TGIF is 'Thank God It's Friday.' It's been going up one direction all week.
