Chapter 3. The Phenomenon

“There are also periods when trends are short-lived and subject to frequent reversal. Technicians assume that such irregular markets do not follow any recognizable pattern for long and that abrupt changes in trend cannot be predicted. My studies show that these apparently haphazard movements nearly always follow the same pattern. The two formations to be explained have been repeated over and over again from the earliest records. A rough tally indicates that the market has followed them at least 60% of the time for the past 150 years.”1George Lindsay

After introducing the concept in 1968, George Lindsay published his “Three Peaks and a Domed House” newsletter in 1970. This newsletter, along with others, later appeared ...

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