#### Key Concepts:
1. High Highs (HH): When the market creates a new peak higher than the previous one.
2. Low Lows (LL): When the market creates a new trough lower than the previous one.
3. Higher Lows (HL): When the market creates a trough that is higher than the previous one.
4. Lower Highs (LH): When the market creates a peak that is lower than the previous one.
5. Change of Character (ChoCH): Indicates a significant shift in market behavior, usually marked by a break in the pattern of highs and lows.
6. Break of Structure (BOS): Occurs when the price breaks a previous high or low, indicating a potential change in the market trend.
#### Criteria for Identifying a Shift:
- Failure of Supply and Demand Zones (S2D, D2S):
- Supply Zone Failure (S2D): When a previous supply zone fails to hold, indicating potential upward movement.
- Demand Zone Failure (D2S): When a previous demand zone fails to hold, indicating potential downward movement.
- Break of Highs and Lows Against Current Trend (ChoCH):
- When the price breaks previous highs or lows against the ongoing trend, signaling a potential reversal.
#### Example:
- The chart starts with a series of higher highs (HH) and higher lows (HL), indicating an uptrend.
- A shift occurs when a lower high (LH) is formed, breaking the previous low, indicating a potential downtrend.
- The actual shift is confirmed when a lower low (LL) is formed.
#### Practical Application:
1. Identify Key Levels: Mark the significant highs and lows on your chart.
2. Observe Breaks in Structure: Pay attention to when the price breaks previous highs or lows (BOS).
3. Look for Change of Character (ChoCH): Notice when the pattern of highs and lows changes direction.
4. Confirm with Supply and Demand Zones: Ensure the shift is supported by failures in supply and demand zones.
By following these steps, traders can better anticipate potential shifts in market trends and make more informed trading decisions.
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