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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Resistance and Support as Keys to Confirmation Proximity
The role of resistance and support in both reversal and continuation patterns cannot be emphasized enough. These price points are the most likely proximity for successful price movement in the direction forecast. Confirmation is yet another occurrence that will be at its strongest at these points.
Key Point
Just as reversal is most likely in close proximity to resistance or support, confirmation is also likely to increase confidence that reversal is highly likely.
When reversal signals appear and are quickly confirmed by additional signals, this should increase confidence. However, when reversal is found right at resistance or support, confidence should approach 100 percent—never quite ...
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