Learn to Trade
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This is one of the most popular indicators out there. This was first developed by Joseph Granville in his book called "Granville's New key to stock market profits".
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This is one of the most popular indicators out there and was developed by Gerald Appel.
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To be a successful trader you have to follow strict rules with regards to trading. These are some of the rules from experience:
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This is when prices have been falling hard then all of a sudden prices re-bound the following day.
This could leave gaps in the open of the next day trading, these are normally caused by big market news.
Please click on chart below for larger image
These are quite hard to trade due to the speed of the moves therefore you should normally look for a higher high before entering.
These are also very volatile so it is best to wait for a clear signal or a better entry from a pull back.
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This is a very rare pattern and does not happen that often, the share price rises to roughly the same area of resistance three times creating three peaks.
It does not have to be the perfect level of each other as long as its roughly near the peaks.
The signal completes when the price goes below the supports of the 2 lows that were created in the process that led to the triple top.
The volume goes down on each peak and the volume increases once the supports breaks preceding the triple top.
This chart is of the Dow Jones Industrials.
Please click on chart below for larger image
These patterns are usually formed and appear only after an uptrend.
Targets
You have to take the peak(point A) and the lower supports(point B) as in the chart above and extend that length from the breakout point to have your targets.
As can be seen from the chart above it was a perfect trade as this generated 600 points profit.
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This is the opposite of the triple top pattern(see triple top article).
The share price bounces of roughly the same low three times and once the peak resistance is broken then you get the buy signal, which should be followed by high volume.
Please click on chat below for larger image
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These are all continuation patterns so are best used in the direction of the trend.