Trading Stocks Using Classical Chart Patterns: A Complete Tactical & Psychological Guide for Beginners and Experienced Traders by Brian Kim

Author:Brian Kim [Kim, Brian]
Language: eng
Format: epub, mobi
Publisher: Brian B. Kim
Published: 2014-10-31T00:00:00+00:00

Figure 44

Note the generally declining volume during the formation of the wedge. As we noted, volume confirmation is not necessary but helpful when analyzing a pattern. Notice how the stock traded and even closed above the upper boundary of the wedge. Such peeking is common in rising wedges. The signal to go short came when prices closed decisively below the lower boundary. We could set our stop just above the high of the breakdown day. Finally, note the higher volume as the stock started to break down, which supported the downtrend interpretation. Everything about this rising wedge was by the book. Our bottom line will be much better if we strive to trade only such textbook set-ups.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.