Confirmation Type The confirmation type indicates

Confirmation Type

The confirmation type indicates how the event was confirmed to have occurred. Classic Patterns are found or recognized based on the price movements creating a specific formation. The pattern is finally confirmed when the price of the stock breaks through the "breakout price" of the instrument. The breakout price is a price threshold determined by the definition of the pattern type. Valid confirmation types for Classic Pattern events are: Confirmed because the Close Price penetrated Breakout Price Confirmed because the Price penetrated Breakout Price by 3% Confirmed because the Price penetrated Breakout Price by any amount Price Crosses Moving Average, an indicator, is recognized when the price of the instrument crosses the moving average. However it is not confirmed until the moving average turns in the direction of the anticipated price move, within a specific time period. If the appropriate turn does not occur within the specific time period, the event is considered "not confirmed". Therefore valid confirmation types for Price Crosses Moving Average Indicator events are: Undecided. This means that the price crossed the moving average, and confirmation is being watched for. Not Confirmed. This means that the price crossed the moving average, however the event has not been confirmed, and confirmation is no longer being watched for. Confirmed. This means that the price crossed the moving average, and the event was confirmed by the moving average taking a turn in the direction of the anticipated price move. Event types not mentioned here are always considered confirmed. They are not considered found unless they pass the additional confirmation criteria as well. Therefore the event date is the same as the confirmation date.