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A Beginner's Guide to Charting Financial Markets: A by Michael Kahn

By Michael Kahn

This e-book is ready arming traders with one uncomplicated instrument that may increase the funding decision-making method - the chart. it's not the Holy Grail or even if utilized precisely as provided there isn't any ensure that the reader can be winning. yet possessing a top quality hammer is not any be sure that the consumer will construct a stunning condominium. The hammer is a device and typically the consumer will nonetheless desire different instruments - and information - to construct that condo. What this e-book will do is provide the reader the fundamentals had to examine a chart and get a think for what the industry or person inventory is doing. it's going to disguise in simple terms the nuts and bolts of chart research, slightly touching upon the following point suggestions and positively leaving the whiz-bang stuff good on my own.

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Extra resources for A Beginner's Guide to Charting Financial Markets: A Practical Introduction to Technical Analysis for Investors

Example text

For the latter, an initial surge, breakout Volume is very useful in or breakaway occurs when the public determining whether a stock suddenly decides that a stock is cheap is pulling back in a correction (or expensive) at the same time. It could or changing direction. be due to positive earnings news or it could be a situation when the time is just right for investors to play “follow the leader” in buying. Whatever the reason, prices move sharply and volume surges. 1 Here we see Pfizer with both a selling climax and a breakaway.

Many analysts refer to triangles as “coils” because the trading action gets tighter and tighter, storing energy until the market breaks out with great force. The breakout usually, but not always, occurs in the direction of the original trend. 44 3. 12). Each swing higher and lower within the pattern is marked with increased uncertainly as both bulls and bears lose conviction. Bulls are taking short-term profits sooner and sooner on each rally and, conversely, bears are covering their short positions sooner on each decline.

However, the others make our job a lot easier so let’s learn the basics. • Price The stuff you put in the bank. Clearly, this is the most important component as we measure our success in monetary terms. It only matters if we have more money after investing than when we started and that is measured by price. • Volume How much money is moving. If price tells us what is going on, volume tells us how much is going on. Chart analysis depends on liquidity and crowd psychology, so the more shares of stock that are traded, the more reliable the analysis can be.

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