May 2011
Intermediate to advanced
464 pages
13h 30m
English
book
MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets
by Andrew Coles, David G. Hawkins
Content preview from MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's MarketsBecome 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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A Trading Range Turning into a Downtrend
The previous two examples both show how support curves are used to distinguish a trading range from an uptrend. On the complementary opposite side of things, one can use MIDAS resistance curves to look for the change from a trading range to a downtrend. Figure 2.8 is an example of this, where this chart is a continuation of Figure 2.7. On the left side of this chart, you can see the uptrend that started in Figure 2.7 at around a price of 12, going all the way up to a peak of 29.61. Curves 3 and 4 are the continuations of the same named curves from Figure 2.7. With hindsight, we can look at the whole of Figure 2.8 and see that price went into a consolidation for over two years, and then started a major ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.