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Technicals

The Trend(Line) Is Your Friend (Article)

If you ask any professional trader what is the most important rule when trading; nine times out of 10 the response will be money management. Any two traders can enter the market at the same time and same price but the...

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Fan Principle

Another use of the trendline. Sometimes after the violation of an up trendline, price will decline a bit before rallying back to the old up trendline (now resistance). Fan lines are drawn are either drawn along...

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Double Trendline

Double Trendline When two relatively close Parallel Trendlines are needed to define the true trend pattern. Source: Edwards, Robert and Magee, John.Technical Analysis of Stock Trends 9th Edition; (c)...

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Validity of Trendline Penetration

Validity of Trendline Penetration The application of the following three tests when a trendline is broken to determine whether the break is valid, or whether the trendline is still basically intact: (1) the extent of the...

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Red Trendline

Red Trendline A straight line connecting two or more Bottoms together. To avoid confusion, Edwards and Magee use a red line for Bottom Trendlines and a blue line for Top Trendlines. Source: Edwards, Robert and...

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Blue Trendline

Blue Trendline A straight line connecting two or more Tops together. To avoid confusion, Edwards and Magee use a blue line for Top Trendlines and a red line for Bottom Trendlines. Source: Edwards, Robert and Magee,...

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Descending (Down) Trendline

Descending (Down) Trendline The declining wave in a stock or commodity is composed of a series of ripples. When the tops of these ripples form on, or very close to, a downward slanting straight line, a basic Descending or...

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Ascending (Up) Trendline

Ascending (Up) Trendline The advancing wave in a stock or commodity is composed of a series of ripples. When the bottoms of these ripples form on, or very close to, an upward slanting straight line, a basic Ascending or...

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Trendlines

Trendline If we actually apply a ruler to a number of charted price trends, we quickly discover the line that most often is really straight in an uptrend is a line connecting the lower extremes of the Minor Recessions....

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Types of Divergences

Types of Divergences Divergences, whether bullish or bearish in nature, have been classified according to their levels of strength. The strongest divergences are Class A divergences; exhibiting less strength are Class B...

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Divergences and Confirmations

Divergence Divergence refers to momentum that moves in the direction opposite to the direction of the price trend. Divergence also refers to momentum higher or lower, but less high or low than a previous peak or trough,...

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