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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Breakout Signals
In every trend, including consolidation, you seek breakout signals of convincing strength to set up a new dynamic price move and new trend. However, because consolidation is normally the most difficult trend to escape, you may also need to locate multiple signals of move, reversal, and continuation, along with additional confirmation from other signals (such as volume spikes).
Figure 8.4 shows a two-year chart with a period of consolidation extended for approximately six months. A brief but revealing pattern emerges. Price breaks out above resistance and remains there for three months, and then retreats back into consolidation range before finally breaking and remaining above resistance in March, 2014.
Figure 8.4 Consolidation ...
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