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 ProfitsBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Head and Shoulders
One of the best-known reversal patterns in the head and shoulders. The concept in this pattern is that it tests resistance and, upon failing to break through successfully, price will then retreat in the opposite direction. The bottom of the three attempted breakouts is called the neckline, which serves as a form of interim support. After price moves below the neckline, the bearish formation of the head and shoulders is confirmed, and the price is likely to continue falling.
For example, in Figure 5.2, two examples of head and shoulders are revealed, both with clear neckline price levels and both followed by a price decline. The first of the two head and shoulders formations spans two months, and the second spans four months. ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
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