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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Internal Trendlines
Trendlines cannot always be drawn to reflect an orderly and consistent trend. At times, reaction high and low prices spike outside of an otherwise recognizable trend. In these cases, an internal trendline may clarify what is occurring in the broader trend.
Key Point
Short-term volatility obscures the current trend so that trendlines are not easily located.
This is a method in which the interim price spikes are ignored in favor of showing what is occurring in a sensible manner. For example, in Figure 4.8, a number of price spikes make it difficult to spot the secondary trends taking place. However, if you ignore those spikes, the trendlines make the situation obvious. A series of three secondary trends (alternating between ...
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