V.18:10 (32-38): Price Patterns, Part II by Martin J.Pring

V.18:10 (32-38): Price Patterns, Part II by Martin J.Pring
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Price Patterns, Part II by Martin J.Pring

This veteran market analyst takes a look at the patterns of price formation.

Last time, I covered the basics of chart patterns using rectangles as an example. This time, I will expand on the subject by taking a look at several different patterns. To recap some of the major points:

1. Price patterns are clearly definable trading ranges that form on a chart. There are two types óreversal and consolidation.

2. The significance of a pattern is relative to its size; the longer it takes to complete, the more significant the formation is.

3. The minimum ultimate measuring objective for a price pattern is obtained by calculating its maximum depth at the breakout point and projecting it in the direction of the breakout.

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