March 2005
Intermediate to advanced
264 pages
6h 55m
English
Content preview from Technical Analysis: Power Tools for Active Investors
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Synergy in Chart Patterns
Chart 4.2 includes examples of synergistic chart patterns, which reinforce each other and thereby add weight to each separate bullish or bearish pattern.
For example, a very significant upside breakout from a declining wedge formation took place during the spring of 2003, shown in Chart 4.2. That breakout occurred simultaneously with the completion of the segment B decline within the wedge formation. The angle-measuring strategy suggested the completion of a decline right in the area of the breakout, so a recovery at that market juncture was not surprising.
The coincidence of the achievement of price objectives based upon A, B segment angle changes and the presence of rising and falling wedge formations adds to the ...
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