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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Why Does Price Projection Work?
The basic program of any part of Technical Analysis is to generate mathematical, graphical models of the psychological behavior of market participants. Here we have a model, Arms’s price projection, which often works. So, what behavior of traders is it capturing when it works? Let's consider a flat bottom, a base, on a chart. It occurs after a downtrend. During that base, the new buyers, attracted by what they see as bargain prices, are snapping up the shares being dumped by discouraged holders who have owned the stock since it was much higher in price and are finally giving up on it. The downward pressure from the discouraged holders balances the upward pressure from the new bargain investors all the way across ...
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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.