Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications
Penguin, 1999 M01 1 - 576 páginas
John J. Murphy has now updated his landmark bestseller Technical Analysis of the Futures Markets, to include all of the financial markets.
This outstanding reference has already taught thousands of traders the concepts of technical analysis and their application in the futures and stock markets. Covering the latest developments in computer technology, technical tools, and indicators, the second edition features new material on candlestick charting, intermarket relationships, stocks and stock rotation, plus state-of-the-art examples and figures. From how to read charts to understanding indicators and the crucial role technical analysis plays in investing, readers gain a thorough and accessible overview of the field of technical analysis, with a special emphasis on futures markets. Revised and expanded for the demands of today's financial world, this book is essential reading for anyone interested in tracking and analyzing market behavior.
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... meaning that their intent is to identify and follow existing trends. (See Figure 1.1.) Figure 1.1 Example of an uptrend. Technical analysis is based.
Dow defined an uptrend as a situation in which each successive rally closes higher than the previous rally high, and each successive rally low also closes higher than the previous rally low. In other words, an uptrend has a pattern of ...
In a major uptrend, volume would then increase as prices move higher, and diminish as prices fall. In a downtrend, volume should increase as prices drop and diminish as they rally. Dow considered volume a secondary indicator.
If a futures trader expected an intermediate uptrend to last for a couple of months, he or she would look for short term dips to signal purchases. In an intermediate downtrend, the trader would use minor bounces to signal short sales.
... of the limited life feature of a commodity futures contract. To provide the necessary continuity in volume. Total Versus Individual Volume and Open Interest Numbers in Futures Figure 4.1a Example of an uptrend with ascending peaks and.
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Investor Sentiment Readings
Weekly and Monthly Bar Charts
Elliott Wave Theory
The Rule of Alternation
Fibonacci Numbers as the Basis of the Wave Principle
Finding a Price Objective
Variations from the Ideal Pattern
Major Reversal Patterns
The Descending Triangle
The Measured Move
Summary of Volume and Open Interest Rules
Long Term Charts
To Optimize or
Measuring Rate of Change ROC
Constructing an Oscillator Using Two Moving Averages
Futures Open Interest
How Cyclic Concepts Help Explain Charting Techniques
Computers and Trading Systems
The Use of Intraday Pivot Points
Measuring Market Breadth
How to Coordinate Technical and Fundamental Analysis
Formula for Demand Index
Tracking Longer Term Market Activity
The Importance of Longer Range Perspective