Floor 1: Structure
BOS or CHoCH
BOS or CHoCH shows a trend and a last candle that has pushed into the most recent swing. You decide whether it is a break of structure, a change of character, or no break at all because only the wick went through. It teaches the body-close rule that separates a real structural break from a poke.
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What it teaches
Telling a break of structure from a change of character.
- A break of structure is a close beyond the last swing in the direction of the trend.
- A change of character is a close beyond the last swing against the trend.
- A wick through a level does not break structure, and a close exactly on the level is not a break either.
- Knowing the trend first, because the same candle is a BOS in one trend and a CHoCH in the other.
How a round plays
- A simulated chart shows an established trend. The last candle has pushed into the most recent swing. At lower levels a line marks that swing, and later you find it yourself.
- Read the trend first, then where the last candle closed. Choose one of three: BOS, CHoCH or no break.
- At higher levels the margin shrinks, so the close sits only a pip or two beyond the level, or just short of it.
- The Lens then prints the rest of the chart, marks the swing and the close, and states the rule that settled it.
- A run is ten charts and takes about three minutes.
How it is graded
The rule here is that a candle must close beyond the last confirmed, unbroken swing. With the trend it is a BOS, against it a CHoCH, and a wick alone is neither. Each call is right or wrong against that rule, and XP follows accuracy.
The honest note
A change of character is a label for one close beyond one level. Trends often carry on after one, so the label is a prompt to pay attention, not a reversal signal.