V. 20:2 (70-74): Identifying Patterns by Dennis D. Peterson
Product Description
Identifying Patterns by Dennis D. Peterson
Identifying patterns can be helpful, even when you’re looking at charts.
What can you use to analyze price charts? There are many tools available, but some of the most popular, like moving averages, have their fair share of problems. What else can you use? Chart patterns. When you first start looking at price charts, the stock activity may look like the product of a random generator. Once you start to look for patterns, though, charts take on a new perspective.
TRIANGLES: ASCENDING AND DESCENDING Here’s a pattern that’s easy to visualize, and this particular example has almost all the classic elements of pattern reading. An ascending triangle (Figure 1) is easy to spot. It has a horizontal resistance line along the top and a support line that slopes upward. The chart displayed in Figure 1 is of the Nasdaq 100 tracking index (QQQ).
Identifying patterns can be helpful, even when you’re looking at charts.
What can you use to analyze price charts? There are many tools available, but some of the most popular, like moving averages, have their fair share of problems. What else can you use? Chart patterns. When you first start looking at price charts, the stock activity may look like the product of a random generator. Once you start to look for patterns, though, charts take on a new perspective.
TRIANGLES: ASCENDING AND DESCENDING Here’s a pattern that’s easy to visualize, and this particular example has almost all the classic elements of pattern reading. An ascending triangle (Figure 1) is easy to spot. It has a horizontal resistance line along the top and a support line that slopes upward. The chart displayed in Figure 1 is of the Nasdaq 100 tracking index (QQQ).
FOR THOSE ORDERING ARTICLES SEPARATELY:
*Note: $2.95-$5.95 Articles are in PDF format only. No hard copy of the article(s) will be delivered. During checkout, click the "Download Now" button to immediately receive your article(s) purchase. STOCKS & COMMODITIES magazine is delivered via mail. After paying for your subscription at store.traders.com users can view the S&C Digital Edition in the subscriber's section on Traders.com.
| Take Control of Your Trading. |
| Professional Traders' Starter Kit |
| All these items shown below only $299.99! |
| Click Here to Order |