July 2015
Intermediate to advanced
352 pages
9h 40m
English
book
A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
by Michael C. Thomsett
Content preview from A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
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Wedge-Shaped Trends
The wedge is a commonly appearing pattern with two lines, both sloping either upward or downward and narrowing. Some wedges are not especially strong signals, however. The more pronounced the slope of the wedge and the more rapid the narrowing range, the stronger the reversal signal is likely to be. The wedge is used as a confirming pattern in swing trading, but repetitive wedges also forecast coming reversal in long-term trends.
The rising wedge is bearish and anticipates reversal once the breadth of trading has narrowed. In order to work as a legitimate bearish reversal, the wedge must appear after a period of bullish price movement. In a primary trend, the wedge may take six months to one full year, and in a secondary ...
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