Define an inside day outside day narrow-range day and, Finance Basics

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Define an inside day outside day narrow-range day and

a. Define an inside day, outside day, narrow-range day, and wide-range day. Which of these days represents increasing volatility, and which represents contracting volatility? Explain your answer.

b. Schwager (1996) states that the one-day reversal pattern "successfully call(s) 100 out of every ten highs." What does he mean by this statement, and what is the implication for traders using these reversal patterns?

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