How Charts Can Make You Money. An Investor's Guide to by T H Stewart

By T H Stewart

The writer has supplied an introductory advisor to technical research for traders. while such a lot books at the topic begin a way up the educational curve, this starts at the start. This publication is particularly largely illustrated and foreign in its insurance. issues lined contain: tendencies; reversal; continuation styles; chart overview; bar charts; aspect and determine charts; signs; quantity and open curiosity; long-term funding; and, hypothesis. this can be a new and carefully revise version of a profitable booklet. This e-book may be a useful advent for the non-public investor and as a operating guide for the pro adviser

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Then it rises to 120. ' It falls back to 100 and rises again to 135. 'Drat the thing', you think. ' Therefore a support level is created at 100 where a willing buyer exists - you, and probably many others like you (for instance, the people who bought at 100 the second time round and got out at a profit at 135, and are itching to repeat the performance, assuming that 100 is the 'bottom' at which it is always safe to buy). A resistance level is created the other 39 Types o f c h a r t s way round; suppose that from 135 the stock drops smardy back to 75, pausing at 100 only long enough to enable you and the other chap who got out at 135 to buy in again - perhaps throwing up a rally to 110 just to encourage you to congratulate yourself on your immaculate timing.

At this point the technical analyst can draw two converging trendlines, one joining the two lows at 95 and 99 and the other joining the two minor tops at 122 and 113/111 (these last two tops should be treated as one because there was no intervening contact with the lower line). Finally the share dipped back to 100 to make another contact with the lower trendline and then broke out of the pattern, leaving a gap of five points. Continuation patterns (a) Fig. 4 . 5 Triangles: ( a ) Isosceles (b) Right-angled.

Key reversals Above we have dealt with the commoner reversal patterns. The rounding bottom or top, the head and shoulder, and the double and triple top or bottom all have this in common: they are built up fairly gradually over a period of time with a normal sequence of rallies, corrections, and more rallies and corrections. What turns this normal sequence into a reversal is that sometimes the rallies fail or the corrections go too far, and you find the trend has changed from up to down or vice versa.

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