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A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
book

A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits

by Michael C. Thomsett
July 2015
Intermediate to advanced content levelIntermediate to advanced
352 pages
9h 40m
English
Pearson
Content preview from A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits

Support and Resistance Zones

Although resistance and support are most often represented as single lines, they can also be shown on charts as zones. Typically, the lines are drawn between points of reaction high and low points. In some patterns, zones more accurately show the likely formation trend.

Because precise resistance and support levels are not always apparent, the zone approach allows you to map out the course of a trend without rigid compliance with rules. For example, if price breaks a trendline, does that mean the trend itself has ended? This can signal the beginning of a reversal formation, but not necessarily. Every price pattern and every form of confirmation sets up in its own way. So trend analysis has to be a flexible science ...

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Publisher Resources

ISBN: 9780134190662Purchase book