To “Learn” Walt’s charts, maintain the next in thoughts:
Assist – this time period refers to a development line or value space underneath the market which is predicted to carry the market from potential decline.
Resistance– a value space or development line above the market that’s anticipated to forestall or stall value will increase.
Development strains and channels – these lengthy strains define a longtime development or band of value exercise which is predicted to proceed. Breaking past the development strains will usually point out a change of development. Walt tries to point an uptrend with inexperienced line, downtrend with purple line, and a damaged development with a damaged line. Developments regarded as of better significance are thicker. A damaged blue line could also be a former, now damaged line, anticipated to have subsequent significance. A blue sideways channel signifies a impartial or uneven market with little or no value bias both upward or downward.
Inexperienced and purple arrows will usually be used to spotlight important turns, purchase or promote “alerts,” or break-outs from buying and selling patterns.
Reversal days (up or down) happen when a closing value happens in the wrong way from a earlier dramatic development.
Gaps in value motion will likely be recognized by yellow circles which normally trace at main modifications of course or value habits.
Bull and bear flags and pennants are sometimes highlighted as indications of small corrective strikes in an in any other case bigger value development.
Triangles could also be outlined to be able to point out a contraction of highs and lows coiling for a later break-out in value course.
Bull Lure – a false or failed chart break-out to the upside which attracts bulls into a protracted place previous to a flip to the draw back.
Bear Lure – a false or failed chart breakout to the draw back which attracts bears into a brief place previous to a flip to the upside.
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Walt Breitinger, Commodity Futures Dealer
“Pinion Futures, LLC d/b/a Breitinger & Sons”
800.411.FUTURES (3888)
