V.9:4 (139-139): Merrill Directional Patterns by Arthur A. Merrill, C.M.T.
Product Description
Merrill Directional Patterns
by Arthur A. Merrill, C.M.T.
Can we get clues to price performance from the swings of prices in the last hours of the preceding day? If we ignore volume and the amount of change, the direction of the swings of prices can be summarized by a simple plus or minus and analysis is simplified. I've modestly (!) labeled the classification "Merrill directional patterns," in hopes of some immortality.
If we consider the direction of the swings in the last four hours, there are 16 possible patterns (Figure 1). If we consider only the last three hours, there are eight possibilities (Figure 2).
Can we get clues to price performance from the swings of prices in the last hours of the preceding day? If we ignore volume and the amount of change, the direction of the swings of prices can be summarized by a simple plus or minus and analysis is simplified. I've modestly (!) labeled the classification "Merrill directional patterns," in hopes of some immortality.
If we consider the direction of the swings in the last four hours, there are 16 possible patterns (Figure 1). If we consider only the last three hours, there are eight possibilities (Figure 2).
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