Market Structure: Basic Trends
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In this chart there is a display of a swing trend. In a downtrend, there is a characteristic lower low and lower high; however, the downtrend is not officially broken until the prior high is violated.
In this chart, there are three lower bottoms; the tops are confounded; the second top partially violates the first; then, the rest of the tops are in the range of the prior swing consummating with the large wick.
A similar micro example is found in this chart.
This is a five minute chart exemplifying the same characteristics.
Be well, and enjoy!
Suggested Reading:
Law of Vibration - Tony Plummer
Michael Jenkins - Geometry of Stock Market Profits, Chart Reading for Professional Traders, Complete Stock Market Forecasting Course
Scott M. Carney - The Harmonic Trader, Harmonic Trading Volume I, Harmonic Trading Volume II, Harmonic Trading Volume III
H.M. Gartley - Profits in the Stock Market
Bill Wiliams - Trading Chaos, New Trading Dimensions, Trading Chaos 2nd Edition
J.M. Hurst - The Profit Magic of Stock Transaction Timing, Cyclic Analysis: A Dynamic Approach
Fabio Dreste - Quantum Trading
Michael Jardine - New Frontiers in Fibonacci Trading
The Wave Principle, Nature's Law
Ralph Nelson Elliot
Technical Analysis of the Financial Markets
John J. Murphy
A Complete Guide to Volume Price Analysis
Anna Coulling
Mastering The Elliot Wave
Glenn Neely
In this chart there is a display of a swing trend. In a downtrend, there is a characteristic lower low and lower high; however, the downtrend is not officially broken until the prior high is violated.
In this chart, there are three lower bottoms; the tops are confounded; the second top partially violates the first; then, the rest of the tops are in the range of the prior swing consummating with the large wick.
A similar micro example is found in this chart.
This is a five minute chart exemplifying the same characteristics.
Be well, and enjoy!
Suggested Reading:
Law of Vibration - Tony Plummer
Michael Jenkins - Geometry of Stock Market Profits, Chart Reading for Professional Traders, Complete Stock Market Forecasting Course
Scott M. Carney - The Harmonic Trader, Harmonic Trading Volume I, Harmonic Trading Volume II, Harmonic Trading Volume III
H.M. Gartley - Profits in the Stock Market
Bill Wiliams - Trading Chaos, New Trading Dimensions, Trading Chaos 2nd Edition
J.M. Hurst - The Profit Magic of Stock Transaction Timing, Cyclic Analysis: A Dynamic Approach
Fabio Dreste - Quantum Trading
Michael Jardine - New Frontiers in Fibonacci Trading
The Wave Principle, Nature's Law
Ralph Nelson Elliot
Technical Analysis of the Financial Markets
John J. Murphy
A Complete Guide to Volume Price Analysis
Anna Coulling
Mastering The Elliot Wave
Glenn Neely
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