Download Basic Technical Analysis of Financial Markets: A Modern by Renato Di Lorenzo PDF

By Renato Di Lorenzo

The current ebook avoids the fable recipes that abound in technical research and focuses as an alternative on those who are statistically right and will be understood via novices in addition to liked through execs. The defined protocols and strategies will end up worthy in examining marketplace habit and helping in buying and selling judgements.

The algorithms utilized in the technical research of monetary markets have replaced past acceptance. This publication deals a extra effective technical research – person who isn't pleased with protocols that simply appear to be effective, yet which calls for that they're certainly high-quality, verifying this via simulations at the computing device, severe statistical counts, and so on.​

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34 McDonald’s. ProRealTime platform The choices that are often permitted, in addition to the obvious ones: O H L C are the following: (H + L)/2 31 32 1 Graphical Representation (H + L + C)/3 (H + L + 2 × C)/4 (O + H + L + C)/4 where as usual O, H, L, C stand for open, high, low and close. The reason why one can use one of these combinations, is the search for a kind of average of the prices of the session that best represents the trend experienced in the same session. 34). 1 Linear Trends One of the most intriguing aspects of the financial markets is that the graphs of the prices are for the most part embeddable in a system of parallel lines which delimit channels that are called trends.

After a little it is rebroken in E and behaves again as a support; then still it behaves as a resistance in F, G and H. It follows then a general law (the golden rule of technical analysis) that sounds: a broken support becomes a resistance and a broken resistance becomes a support. Obviously this property can be exploited in the trading activity, taking a short position on a resistance and a long one on a support. 9). Using technical analysis consists primarily if not exclusively in this: to look for cuts and formations that at first glance escape investigation and that can make a difference to the trader that is able to find them before anybody else.

Since in finance we are accustomed to think in terms of percentages rather than returns in value, this kind of graph represents better the reality of the market, resulting in more compressed high prices and more dilated low prices. This is the so-called logarithmic representation. 32. The numbers on the vertical axis are the percentage changes from a price made on a specific date (1 January 2011 in the example). Normally the different platforms allow one to choose as a reference not only an exact date, but also the maximum price reached in a certain period of time, or the minimum, or other possible combinations.

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