Saturday, June 26, 2010

Technical Lesson: Contracting Triangles -- As Seen in the Dow

How spotting this wave pattern can help you predict the next price move.
Those who follow the Wave Principle will tell you that knowing your wave patterns is vital. If you can identify the pattern, you can often tell the direction and nature of future price moves. There are many different patterns with names like zigzags, leading diagonals and expanded flats, but the one I'd like to focus on is the contracting triangle.

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