Getting Started in Technical Analysis [PDF]

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Getting Started in Technical Analysis

This is a trend reentry technique similar to the one outlined in Chapter 8 in the “Reversal of a Minor Reaction” section. A “reaction” is identified whenever the reaction count reaches 4. The reaction count is initially set to 0. In a rising market, the count would be raised to 1 any day on which the high and low were equal to or lower than the corresponding points on the day on which the high of the move was set.

The count would be increased by 1 each day the high and low are equal to or lower than the high and low of the most recent day on which the count was increased. The count would be reset to 0 anytime the market moved to new highs. Analogous conditions would apply to a declining market

Technical analysis is the art and science of deciphering chart patterns in order to better analyze and predict the prices of a given security.

Jack Schwager demystifies technical analysis for investors, introducing them to oscillators, price-and-time charts, online charting applications, and much more.