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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Rounding Top and Bottom
Besides the spiking prices associated with head and shoulders and gaps, some trends are found in a softer rounding effect. The rounding top or bottom marks a potential reversal, but without the clear spiking price points expected in so many types of signals.
A rounding top is most convincing as a signal of reversal when it “rounds” higher than resistance. In such a case, you expect to see price retreat to the downside in a new bear market. An example is found in Figure 5.5.
Figure 5.5 Rounding top (Chart courtesy of StockCharts.com)
Unlike the heads and shoulders with its fast-moving and spiking prices, the rounding ...
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