By the end of this chapter, you should be familiar with
The controversy about whether cycles exist in financial market data
How cycles are defined by their amplitude, period, and phase
Detrending data and plotting centered moving averages
The major methods of determining cycles in market data
The major methods of using cycles to project future price highs and lows
Throughout this book, we have seen how prices trend, but the trend does not occur in a straight line. Prices oscillate up and down around a trend. These oscillations form the trading ranges, patterns, and channels we have discussed. Could it be that these oscillations have some sort of regularity? Believing that they do, cycle analysts look at prices as ...