The unit of 3 rule
a day is a unit of time, a week is a unit of time, a month is a unit of time etc
The election of reversal indicates the expected high or low should occur within 1 to 3 units of time, be it daily, weekly, monthly or quarterly. Hence the election of a daily reversal means the expected move should occur within 1 to 3 days.
I don't understand what is indicated high or low in "The election of a reversal normally indicates that the expected high or low ..."
Didn't find any info how reversal election indicates high/low.