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The Dow theory on stock price movement is a form of technical analysis that includes some aspects of sector rotation.The theory was derived from 255 editorials in The Wall Street Journal written by Charles H. Dow (1851–1902), journalist, founder and first editor of The Wall Street Journal and co-founder of Dow Jones and Company.
The pattern is formed by two price minima separated by local peak defining the neck line. The formation is completed and confirmed when the price rises above the neck line, indicating that further price rise is imminent or highly likely. Most of the rules that are associated with double top formation also apply to the double bottom pattern.
This type of head and shoulders pattern has more than one left or right shoulders or head. It is also known as multiple head and shoulders pattern. [citation needed] One particular type is known as a Wyckoff distribution, which usually consists of a head with two left shoulders and a weaker right shoulder. [citation needed]
A chart pattern or price pattern is a pattern within a chart when prices are graphed. In stock and commodity markets trading, chart pattern studies play a large role during technical analysis. When data is plotted there is usually a pattern which naturally occurs and repeats over a period. Chart patterns are used as either reversal or ...
The pattern derives its name from the fact that it is characterized by a contraction in price range and converging trend lines, thus giving it a triangular shape. [1] Triangle patterns can be broken down into three categories: the ascending triangle, the descending triangle, and the symmetrical triangle.
On a technical analysis chart, a gap represents an area where no trading takes place. On the Japanese candlestick chart, a window is interpreted as a gap. Gaps are spaces on a chart that emerge when the price of the financial instrument significantly changes with little or no trading in between.
Charles Henry Dow (/ d aʊ /; November 6, 1851 – December 4, 1902) was an American journalist [1] who co-founded Dow Jones & Company with Edward Jones and Charles Bergstresser. Dow also co-founded [ 2 ] The Wall Street Journal , [ 3 ] which has become one of the most respected financial publications in the world.
William Peter Hamilton (January 20, 1867 – December 9, 1929), a proponent of Dow Theory, was the fourth editor of the Wall Street Journal, serving in that capacity for more than 20 years (i.e., January 1, 1908 – December 9, 1929). [1] [2] [3] "Some people think and others do. Dow thought and created an index and pondered it.