Cloud Charts Trading success with the Ichimoku technique David LintonUp at use ‘vend ‘ont at tan we sao eae” Fae +420 884 3881 ra east cok te mpc Fetaioin eatin n2010b Ups on ne ‘het eLearn "pas a Gnyint, Dsi ndPe t 508, ‘savas 04 es ny catego Aca ror ek can ie on te Bt a iss nat peat aye oe se nae se. cemented ay fom by oy mar, cen, ean ete eg eee ath por in ern fae Tso tet, ee tani doe et yo de yam ting ene tra ah wh pe! ite por at PE. reed a ye. ge i ree rs one on post opr nyc an st eu ten te a i na cab ay Rie by eA, ° ‘yb Doe rie done a et pe ec owe, Ferns iro veces ‘About the Author David Linton IFT, evi Linon ws born and sed ear Meloure, Asai an add egies a King Colles Univertyof Londo inthe United Kinga ter rang be elt in aed Options onthe London Stock Exchange and decoped emperor ot ‘nating pice beaves In 1991, Dav funded Up pl, bs nando, we ‘eis Ch Executive Owe Profesional ads and analyse Up inn fot ous round th weed Davi i well nn commer o sin marets in he UK Hea appa ‘n BBC television, FTW News, Blomberg snd CNBC finance chanel fs wien {ocThe Mal on Suny; Shore Magsine andthe levers Cho eas aus “Teta nays to thousands of tar and invesors a Eaope ee the as wo decades with numerous nol asians empl i tench ni it trating teams ‘i esa member ofthe UK Soe of Tesi Analysis (STA) where e teaches the lehinola technique spr of he STA Diploma Course ad isa holder ofthe MSTA, signin. He a member of be Asean of America Poesia Tec “Amss(AAPTA) an was aval the Mt inane Techie! Asa (FTA) {qatcan byte intra Feserton of ech Anat (FTA) fr hs paper on ‘be Opsinisatan a Tring tp oss 298, avi tes in Lond nit intrest inde hing and yangContents Pesce ‘Acknowledges Inrocetion ‘Artbook PART 1 Understanding Tecnica Anais (Chapter = isary (Chapter 2" Bais of Techical Analysis ‘Ghaptr 3. Moving Avene (Chapter ndatore {Chapter 5 Pin an Figure Carts (Ghaptr 6 Caglesick Car (Ghaper7 Using Soposes Pt Sonmary PART 2- Understanding Cloud Charts Chapter § = Cha Chart Consraton (Chapter 9 nrpting Cloud Chart (Caper 10- Mle Time Fame Aalyss {Chapter 1 —Jopanse Pate Techniques (Chaplr 12 Code Chars with ter cigs Pan = Sanmary PART 3- Advanced Glo Char ecniques ‘Cape 18 eine inate echniges (Chapter 14. Bac-eing and Clea Tang Statcice, ‘Chapt 15 - Cloud are Breath ans Pat3-Sammary Chapt 16- Conlin ‘Append -Scansing Dibcwphy nse B 5 » a 2 10s ii a tet 1 Iss 3 as zt m3 m FyPreface ‘Thistoot repent sagen ong juny fo mater th chair fF traits, Ther ae tof people wh ave acted ne lng te wa. Thi stared ‘us frie, a cage when I wae lox chased with poabs an utes fal higs ncn As tet inthe nly 19805 would soy the share pages he Fnac Time in Lone ming lhe tock ht a amped in pie he psi [sisted oundstand how a share pee could sony esp and wated io know a pos Seay such es befochand My Sry baying ae ivoved eding the shares inthe weekend ‘evaqupet and loging a stockbroker it hing 0 Mendy rag, buying soll {Soot fal of them It rome perf opal meth hey wld po op case {lone inthe Eno sid hy wld aeveryone reading wht Ina rend woul Tuyen toa wold vey wel poke broker yt srs to yee ae ound in sac, while wold leave me no dub wth hie igh that wa eal Inthe day wo mek scant oid ope. Sea bogh shares the str of ‘he seman, you would ne two wes bere you would eo sen chaque ‘role oy oem. I you sol bef th ed ofthe cout period and made a prot you woul ese cheque om your sockbvoer fr how mh ou Bad made es hi romney “Theft time |i hi rece chaque oor £00, apt track et ‘asthe easiest way to make one inthe word {wold buy shares each og ‘onMongy morning sel then a thee of he ccoant persone Fry ‘amon he flowing wk, st war staring pe el he ew of cing ‘ing fom ny ecto each fri somthing limos neoneeee tome, ape Sibel ad fallen vil athe endo be accu period ove Fran | adler los, Insend of resin my chen hemi he llonng week ot 2 Stent of cust bat fone i tt wold sel oso chegueohe bke “This woud cover he dilseoos tte th pie 1s a fev dey oie and hee ought almost couple wks beforehand as wel ashe commision and ta onthe aracons. Ha sll he shares ould noord to purse ‘tht and sual cee that Told hve sen chau fo 1500 pounds, mos fd mae ithe proces eck have hing for made me el sick, remained ina at of deli for weks: Hw cold everyone fhe hres tat were tgped og up do cacy ie eee and fal Thy weal get companies hd eta thin orf eid on my ivestmant weighing | hc th prods lth companin wer indn undersea te pres ha pointed ou Kade Senseo meth hips Fal nd asthe pan of elas mide etre ottng te rcsinhe pope each ay i a ncenng slept a sch ores we viding pl ss.In ying gto te btm fy ire tard eserhing the iso seinen "Ths wes the word hat wa cming pe papers ao hy the marc ad allen over The pr I Tost money. la fit the lock mast wns ecoeing un mos of tet "haha to gel wer om her than fe pcs Thad bought them a Tegan realise tturthedeecton mnie he sok et ar whole moved oui ave as ch of timc or bigs on he socks yo cose ob [iste rare ad bookshops ‘ecg fr books on hea of sensmat and sunbed on te sat oF Techie ‘Aaa Tare waver ite wren aout tt evenly {ound The Anais fe Pace rks by ois Mur ad that mort on ws eed ad (fond ns flectve wy oso aes one Fok Marly who Tae nme ow times, uk or his iil enlighten ‘Around his tine mde nt allege, Nick Cbs who had sini interest in Smell pas Hea woul acs he mks or hors ned and event se grnd ode asthe By then he had rode and became mn accom a Tren al year ost mete Both pty bs. Despite this we died ‘ode the mor cating sa levrges London Traded Options mak We boca Partcly nave our ker ws ping more and eration om esis Feld away tnethe Fon ee an i ies wold sen the Shae Check’ with searpenn my pesmi. | el cr sak athe ac them ad ‘ant pryone eda Nisa ad syste of ealling an answerphone to ave ‘Rosa beach oc We woul ln an eee thee rs before dealing a eave ‘Meas to wat coh fs ws ding wth ur aig aecou. Miaclosy we ner {dhe sare hin nid athe same tie ‘Our state fo fying and sling was slo wek we one wit some base ‘ito an Asn PCN! The sos we nonce se oats oe por fata nee twa areal inthe marta we bg oa Ee! ours real ear 1987 ht we mage n 100 on ast race £10.00, Ino pce owls on pins tha wee oekling as ery excing ine, Ba We nous to andar sal wt a eo haw femal ur er Byte ne smmerof 1? we dco he beak om tig. ese he ine ee hare od al ele ad comming tie tang wa ‘eon tax Ast gene ty sk we werent allied nthe tsk, Ic of Or 187 Enc ow shard cone pes rs te ud Singin yeas str a ete rate ein nF renee ting coors ee of el hat ne nine in te 7 sah Sots col nt bp ling ised nce ns tne’ operant of aia one witout te mney” put pos ‘Nikand {quod ooking at as aI rate and stared develop sotare propams wih ou Ye moe power um thing we deme a0, On of Selig stot ming ssa of ayer nthe days as eg dna Typing ingested bre ies on by oe, oe pape each Gy wes ae Car er dates yo hd Guishad you bad itely wo pests tt Inthe at 1980 ost pit invests inthe UK lke thre rcs on a service ‘lod eee This asa ext sed srlingpge servis opera wit rma ‘sol ona evs, coma news bene, spr. tel informatio it Ty fers an most of al re cesta wae up sel ns ay So caus eds Deca sale fr psa cmpaters whereby paging n= ‘TV stil you could ve Teletext page on your ssn, We soon wed one these gs wee ont compu serec, thee as be away to ship the pies foe he pases. {nds thm Saldely we ha omer chars hat were epee ines ay and we cold ae tr simple program ad commercial pte. ams wih he tame Uda beaut ak ouch werk ou of pling pices toda chats and we top atusins. fe fe months of sruglng sell oursstca, Nick decided ice he company nd tok ver Upsitaan is Having spoken oso may potenti prosper th Uda program, as chy “nog to meen Rodger who al works inthe i or many year: He anda ‘tol of nds geo back te cmp adn became a mete inthe xy yes ‘ot gutig Upto he round. Wihar al of is ours dadiestion and upp, ang witha dep personal tere o ace me sacs, Ups wale bing ithe esc bce ey For that willaiys be tefl ean Jos ‘he cmp belted om utero suppres, Pat Lica, a soca ad fe ofr clients an acer lp our software ung in more daning tang eniromment The ea or etna scan oss = ale vie bed th acne. Sadly be ded’ ow years and egy shi, ‘he ist pda stare prod ws ahead of ts tne, with sumber fist fo estes aware in the UK. Besides Ieaing inthe updating fhe software, yu ould ea moss a dnt ines, which wan qt sometng o=n MS DOS poses Tene st ling tapes, wich wereaso mouse even and We td oat nmin UK cmp sch ahr an Indes bits tat Updater equ We wer the froma to Miso Winds which ns consid sk tho ime Neo ented fom being the Bon del with Teletext andthe Provider of odes ra-e dt, These ds woe wa Boe Wes shoe Joinan inert sartp and any pope cas and worked fr wo ow pay. eo ike Nat Rony an Stephen Orin spent many year wth he ane developing rtecncogs, pdaais a very ir eompary tay and we have res tea of led pple Simi Khan, Ricard Tele, Nige! Sha Anew Moher, Jere Psi amon Usman Tar Baboon hve boo wth fo ye and lp wy the ft Newer ni tin ae a hing ow tothe pin were our enters now ila oe of eo nal sions he wold comme ha ty cous. We would ot hive be eo make the rides we have in Teli Ting pees sitet th thane f prt atomers ve the yeu. ay of tse pone ne ee ee‘ourcastomes kp us ea by pang ses and we wos ro te lok mak ‘any oF he chuacrmens tht they ak a5 posible “There en many professional cet wh have infeed my work in Tei [Ans adhe devclepment for pedo tT Hochan at ily in Lenn, Rosi Gis JP Mra Cazenove, Rb Banat ABN Aro, Adam Sora at QS ‘gener Dvid Sedona Crt ule, Dave Kale at iit Boston, yl ‘anon a Exane BNP Pris, hare Norris a SBC. Kevin Ease at Caan ‘ure Ae! Ralph at Conmetcbank, la oason at Niband Seu, Tom Por PH Parnes ea Clales Gat Scie Generale Greg Mot Sica ‘Money Manger and Louse Yaad st LY advisors in New York, These pos and ‘Bary art nl ae fad to menton, hve al ha an iafuenes,ofen gener Than ey cold know. Wout ten his book wuld nt have sn pole. Over et [ev yeas hve deve ais of trining couse oat professionals n= aber cots a a rfl them fore edo nevi to he sn hie ook “The tam behind th Upstart aio deserve special mento, Te ook wuld be ‘an imposible to proce witht andthe sacl at wich Thvebeen able pode {hers motte thm and explore re en as otal reminded me long the ‘ty hom much fate rot Ups Sure, 1am bine it ao how Boing banda poole rnd te word would agree: Fr ths pei tanks oes teem du Pcs; Suma Rt, Nigel Show and Andiow Mekenik a Update 1 wold probly ot be wring thi bok without wo peopl in pats ick Bens Megat Sly in Ne Yr nied my it nes he Tekin tensa sv years pon Cameron, Head of Ect at te UK Stet of Tcl Analy ecounged met tench te sj which, nar, ose fnetolern ae mocks coul abo Interns of my work a Tenia Anais oe person as inane my owt to larhigher ct th anyone onan Koo forte to dk wih fer seerah Sears Jen Pls Hend of Teche! Anais th ost eared proponent of {be mcr jet ht The countered. Hes oe the ret aiid ehiciass nite UK aba fellow fhe Sci of acl Anat PSTA) a Cate Mate Tecnican (CMT) a esigstn widely eget USA. He pohly the wor eaing exper onthe Pit nd Figure charg ohm andthe wir of ‘The Doe Ge eit nd Pre ave ben ek o have hey band pete yas covet ny itr nd mountings ny work Tecnica ‘Rony Tat cree for working wth ee you woul east ern beeing ‘moc ey bak he So nm tt “There ae numer ied lags thank forth spt ner the yeas a in ua my prs wo fae ays povided te ebcoureerent nd eve presred Trea gta peer io when spent ery werking gt pats ff the gound To hes fe Abeer ellractes ner orate ‘Acknowledgements ee ee en Hinrougemnencnetrergentemtaeat iceaieumenetaritseree Scenic toners Semen ince mie ere Scenes ees temo epee seaerroe ee ee = Seaconigun arouse Fry tenner Det intact are a Seer) ae ee Stic oeonreteteg te peters unerioasrtereene on Be circle rence Sema eaainea cette, monroe imi; hanks re oo ny ai nd es or allowing met st ysl any {pve bok arta free necks when net ane oer Chis 20 My gen, Burtra Gr, was alo repay neglected nd patie! with me tirouhout Than yu 0 mich Honey! Feedback ‘tee feedback at Daviicloudchars.com Achar inte book te roduced using UpsaraProfesioal-Te ts or ee vcs yeoe re ere eeIntroduction voy Jer arn then f tbe the ntti Feeration of etm Anas (UPTA olds is al conference Members ro etn was cits rnd the wold athe osha experience an hehe te dessin preset ove the cous of ew ds. In 2004, ashes of be Asoc Espa de Anat ‘Tesheost toa he FTA conference n Minded. twas metorbe ee an te [patton ony essed aches one phot Byaure,ramning sofware compar hat eves so many tases intial nasi fn trveing the word o ee sme the Best anes nh snes hee Sess, itis rr the conference pexataon beaks new gruod ut swith dig bok, souever now wba gem you wl isk up buried dep within the cont. Oe of be Uposkere athe Madd cofrence was Rik Betsgnor bo ten Che Tei Sai st Morgan Stn and is pemetation wa sho eho Kikho yo ‘hr had cn tee ‘load Char before and bed people sped aout thr nother estan, btn that November mening, Riek presented them ina way hat ae {hom unlentndale many of te anc oh ne That her Ste fre, Avant am gato Rick Beng for oping eye inthe Tokio ohnine Soon fer Mai stared looking a hese charts moe and mote and as keen ‘oct mach a cold aout thn The charts sees apn nua ‘Phenomena rappin the rico Gracia same! witha anne Seree accuracy Twat ko why ths as, so seared he etre alto lexan onset constuction, whichis pant simple swe sale in Par 2. “Tareas al ak of atrial hat explored thes charts nan mearngil depth vied ick it New York ad met up wth hi at subsagae FTA confi Shirin and Egy spoke wih chelate in London who sed them Lapposche the panes delegate athe FTA conferences each ein 3 i fidout how ty sed hem. Diy hve any fr gems of wisn? Did they know ‘fanyooe in Jpn sould speak? was deving Hans. Many of the Wester "spoke oiled tht tere ws bigger ere and whi the aan analysts wee slays ply cathssi I sese tha ey alo mgt he olin someting ack My crn tovads Cloud Chat coincided with hencresingspeince a my ok They wer ecring. regula pa of my wey commis on mares, ad Sextzed in my mcthy prs an in preset 1 wou ho tay in leison itervews and webcar and ound sl sing them ocx wt war going on when siting trading desks with ital cent The UK Sect f Teil Ata (STA) aed mo pei on testo ad thn ie ne ropa preset» ‘mou forte STA Diplo svening couse, tua he sara vy yarn Leon, Agrowineramber of pope wer tang toe 1 ox th ehinny ekg Tul Par fo ft utcomforae ht ight ot ow ll hee was oe sje, Is er ob of me quovioect i hamrantany see to Keay,or Crises 207, |e Togo wth he aim of ing ou 4 mc cou ‘Show he himolr erg, Neng ite prepares yu fr yous ist ine ra {Neier apn you kes de om th sab Ste uae confoned wi ‘Ripot ought hat sha chrater ll oer Tying Bnd — FI (choke Tropa o he pane of boks in rows of bles nthe igs ook sop in Toko Start cen igre, afer everyone was very pol nd spoke Exist ‘SEvauaic ww dient Tis we probably as es of ty poor position ‘SFicimoka Kinki Hyo or myst eeaton of carcass tpn: ‘Ap om nding apne boson Clo Chats, eove ose a may ket tna 51 cul nT, 1nd our meting wit deen cents on axing Dry and echo tard viral the sane mann The cle! wold ome. 2B Sharan you tele abut hse cimok as?” The person | os waned ‘ws idea Soa, Hew the mam hat epanese delegates TFTA cones ‘ost resmed Heed woke fora umber ding fs, wor sods nda ‘Thue boks on france On of hbk ws onde choke technique nd Thad ‘Managed cia op, Despie seve step mas nile os! Mr Sasa Tes bad bon hea in pon where emok as bg flowing Say be ‘Gescpember 208 and prays chink sector and abo wht eas pals have ben ast ee asin tanaation “The mont refered ltd ie of Seek ook ses to be “Table of equim St glance ahogh ti aoaies fered os Tcimokblaes cha ia Japan ‘Ace ull comets se hse names reap dscns fhe sujet While do ave ‘ther Jpmese books tht cove load Chars, clang volume by Gi Hoses ‘tho ded th chars Ses ste Bost et il omy es woes and ood deal more beside el hist ht shold empbasinsme of the dieu niin the vibe letra nape of stupas ecgu aod presenting ti English The Prem stood th altos hat hve done which fy 0 means mre, ay fom fansite whon expe Engh The ic that ‘SEIS boa te oes ya mob ites gh teste oh, Ak sever Sapamee peopl tel oo wha stain Englh and you ge number of anne, “Tiss oly vetcinn on he ito in conducting eal anslaton fom panes IenslnSo fords bok | have ha omy beat edn betwen fe nes 0m “Te second ia scat. Te variations in teslatos dove x comma tee Dib ences annette: he nee seen ove inthe uot This Japanese {spe ole so tome he any wasn res gen th Yaaus ‘rcs Canes cars Tiny leave ch panes uta sage. ‘patterns in Candlestick charts. They clearly have 4 rich Jepanees ie event with in Enh havent hod the eset of esting ae puncte mast in he ste cl cary sos nth tana, The cls ci ed pve consequently there are fewer experts availabe, and litle documentation to bridge tis exp. ‘Sarl heey om te po i bk igh {pacha pssie: Thebase pune trig nl nh ya rdf tas book 2 ae Insscent yes so many paola hve asked wy Then writes this book: Posie Ander ake expan Cll Charts wc vt ther desks, Names ppl in the worl rane ete ow hae Clo Chars en te Seas watt mach ‘udesanding offi owe them, am approached st conferences nding {se ted mln ri my pepo ter att i hs me ‘to wnite it all down, aa = “Asonch pose he tied oma his tj endo someone 1 ‘or often ana Lan oud the mt a gern Socrintoe systole’ hon Col Crt on Sito ol The mow expected weil natty cre plas ors ese Se tut yo ae ig erin ce bs eds eee Sry ae heen he iggy Fecsome tine I hough thee was ely enough Cloud Charts ors bok ‘Thetectaigac ltl ein an quit rihorat. Br or dd ate pple asi hud ed sing usin ary get tht pets ile Do [hdestancing these cart, ul someone el ned opefily ean do the same fr you! avid Linton March 201, Leadon‘About this book art “Te book apt into tres prs, Put is designed ove ou eng owed of ‘elias inorder hat jo my fly derstand Cloud Charts, coxmplmery ‘einige nd moe aaned ent isby no means comprehensive gue othe tole sje The Bet yourenersaning of ohn aaj te ese yu Wil fod tavkestnding Clod Chats shouldbe possible o get upan-uasins wih sing load {Cart fom this ont sloe The explanation of upp andesite, moving weap fade Cenc arse thee ety haters el fait cset 9 ndending Cho Char, Weve aa covered tsi ania aniston Pat | 300m gn an ‘vertigo how they ate applied mae avanced Cou Chat cigs oaline in Pst These sa chap o Pos ad Figure charting shi ely pow ect ce ‘ass with what Clond Charts tl eat nntrument We show he power of ng Choa Chars na Poin ad igre toe aterm the sk “Tora tend of Par 1, topless a money managenent recovered: Whi the ok ‘So bre rent sey enc walisactnigs hy ae ia a Tray ade ‘Ther wills tines mete ols sock stop ses tke preedence over ober eau inloing Clea Chara we wll come ome Undertaning ing ope il so Te hepl wes wecome explo he ex flan topless Pat you ae aeady an epinced tin you may hase o skip Pat 1. But gk revision of th subj my be etl and might uncover some igs you id tay apres ant? “THis soon of the bok ne the bie of wing Clan Chr Ifyou only Interested in geting grips with townie and uso you oud gt by on this ston afte bok stn The cnerton cage einer ory undrsand hess cars {nd ply thom a coeed in Cape 10 The caro ine roo le Iacimising te value o Cloud Cars rep tie me aa. Chapter 12 look a using Cla Cars legsde fer echngues wih some patil examples, Pan's he al part afte hk aks t some wore vanced analyse and adng sms. Many of seo are derive om ping the salar estngues cover Pat fo {hut Chars While yu can ey cata clod analyse ny reaing Pa 2. Put 3 Ig inp next deo wu. Hopefl ou wil fd some th ow stil in i final eto organ rounreakng cough 1 want apps wo your own tangsofware and Systems Part 1 - Understanding Technical Analysis T know all this has been said before, but I need oaome te Chapter 1 - History ‘The cond cart technique is one ofthe news fms of Tacs Ansys subject ht us en verted in any waysve the yeas, fea fered tas Charing Tei “Aalst in the US ar nrtly elle Tens ain many pans ofthe wold thy ‘evo cology oun Chart, Pray yer ane parila of hare vies flo oa two camps. You ete it ae sly or hae ns Iwas are at You we both forms aye the pecs rs een Fundamentals versus Techicals nde ana iy fr the mot commen oie ht instr tok Their yout ale al te undering ifoonton sou company sch anal ass, tends f demande rcs, news, eta she anactons or mero cso, ‘etna i ashing at cout fet the ce alse very nical ut the role wth thi form faa tht mena hie fas aay eld Inthe price So nes you have mage op someting that very fe eave ' wi at any nfrmation you fi wl lp you rit where he re gong We sce hs ll the dn when peices go down on goa ews Dose wae ord ss expected Silay the pics cane where po ia alo seed. Good ‘sos aes a cent mae ros gu! anda ais is ese an aay of as, whe chia ans ds ice Ve nd pce re tw ren ings, ty wees, the wl be Sie ed franca markets. Noting would be rersaloed er undealued. While ‘mianenal fatosmy e beting om pcs he long rho ter ove ar ety ob eney techni The rc harps everyting tn creme now hemasetat a ine, New nrmaion my coms ohh fom ns ich un eth ioe but hee ws ile hance ofhnawing The ext which he pce ects to sucha even wil olen be aaa The Micros chat ela has tain late 207 te company hada mart ale of ound S350 lon. Lee than 1 tens er econ was cplsed lan 150 lion.et ee alin ar mich nr ot nts aris wing Poe ean ee pit anon sc od ine Mk ao earings han ony pienso ps nd Socom capi ‘pepe om fas ipo le waif ha nde Par tae inca oefat rer han ce Toca sa sarang mead oman wt i ee aw ya te or name a pach A rnin ny hoa anda ch core on rity nn aw etng EY ee cae or Ceca ladle ben co bo nhs of ok atu be are e8 My aii focal itor hilt ym cy oncom tes rn si Tel a capa be mato nl Do aoe eee ano peal compar ned we a a Se ach earpiece Sime Sea evince wr wel oe acne ‘puoi erate te re nee technical analys ded by cra eo als. Decree shy cages Bo Sa an al ea Jorn eg nem yh ee hm Seen ements ee ce ope ne ow Theory mapped outsx base ees 1. The aretha re ements —prinay oor ted ft 1 ae sium ging crm ecto of 1p 103 moms SSD ann Sri kn o emaoreend an esa mE a hc fb wet, Tee mance Suing tiny ro win ede i os 2. SERRE ie te ple acum se wih ender Fea ns comer upon» recon pa whee TERS ance nme re daily sae Sittin pase ‘ares esr beg vind poston. : ES tesa a pve pcs uy sl ew eatin So ale To es ue sen om tater of apspeee is eecaiecaregeiin This was Cae One bien an aiid + eles: at oe Sees meer SE oan they oe von cach ter ay Wed npr be ee. We Seti rictnrtenie ne eater ome Sauces ee eee mae sy elu eee ere an tt ps veo Soe =a ee Sita, Heenan ieveeaantamnaemteisaiavet Sc cmmmeatmenerimatarecd Sacto eee tne tna tnt Sreesanth and igre, Jeremy Pesci tonbok referee inthe othe nent Pingo te use of ont nd Fig cate 1900, ne tig we doa nt may bss co Tesi Answer wt fom {86nd Toes mor some ere rcs eal Sedna pry stl Reber Err nds a’ he nao Suc To in 98a he of Te ls ind teton sot mcbodot aul Edvard Mage soi es sow th don sd he ett ete say lon te most ees ay “Techical ana ithe scence of recordin, wala gaphic for, he tha histor ef oadng mening price changes, voles) i acral "share commode ad thn det om tha pice hoy. the robb en Comins to the sj evr since arto utoar mention inl Tecan uch J Wels Wie Jarintodice fof rw ind ini 1978 bak New once in Teel Trading Sytem (tit won ot pas ody). “Teas around he wel ae RSI nor in tor ond eens ch «ay In 1986, do Murpiy produced Tectia Aaa ft Fares Marts wich oth ‘must a for anne led witcha nla at tetera, sown asthe Bbeon he sujet rr sear bre and Soph of cnc For this ‘sas Murpy fen ood the oder ath of Techie Arln.ne aa ill find candle stick el sry nin vv nan i nda wot oak a tr rt bt pit ees eis ae ao Steamers oe in aa eed kei a sccm cyan ng ey ethan on ints eas, cee TinCan ane em ss ct nome me ‘Siete mts ea nat cere esc tenner a Te Oe a cn ni nt Rew aes slo a acy ho nl nt sg yn mg ee re read ema eee vr nase ng nt Onc chi 10th verter mua tama oe Han me eee i eral pnd ep tops cee ies ten poe as Sch sector ear Con i me oot ty oom oat rn eat Seri teenth eg e ate ented enon They ef ate ee ce ch ng ayes Bt cuca lors enon mel ware anes io een ome een SEER en nt ab ~ 4 Ld re ents Wie histor eer he commcemet of te opening pf aan te aia ofthe American commodore Mathew Fey tI tere litle evidence af mich ‘change fiesta dss atl he lt lf th tenth centr. Whether he Japanese wer wing Dow Theory before Work Wa Io ifsome west were ae familar with Candlesticks ite Known Th fat ht aan an the Wes icons and developed ter on Techical Anas engi naepentyfniteerting feiniace. Analysing pas priest rd fate ves ws Tes ob nceere. Fastmeats est 1 1984 member of the Make Tehnician Assist (MTA) a he Nippon Thc ‘Anais Associaton (NTAA) men southern Califor. ae of hr meeting, ‘ne merstionl Fert of Teelaal nets (FTA) ws formed with the Soy ‘toca Anat (STA) io London joing a lA seria ms fel in Toyo ‘tooling yar nthe st anal conferees was lo ld Toyo in 988 TFTA ‘hs 20 ember ounis Wi te contirence hen ted onal eo toe unre. Is kar ht Wes aaj developed an nen sping mare aout Sapuness echnical asi tetiqes andthe exlange rly began wou sine 11991 Steve Nisons ook Jepsen Charing Zig ws pbs a ely ceed with ecg Candler ha othe Westen woe In 19 be ‘el Ko echnicin Greg Mors puis Candeui Chaing Elie which Mana wery god point freee story of loud Charts ‘Ths Iebinok cating sigue was devised by Goi Hosea (1498 1952) who ork a journalist fer th Capital Neuspape Toyo Shimbun) covering tak markers He ner bce the papers buses er In 1932 How me au of Seve pelos work on he eels of the Ichi chat One cn ony maine Sis eam was emplojed oan sees of maternal piney hind in ‘rer atv atthe Bes farmland params owe In he sping af 1938 Hosoda ftmounced the Sino Tekan Set emerson ine) pd pu nthe Capa Nevspeperand lpn Scar Fnac Jura Hees have wien nos te scorn Thiol Suna as lance of man standing on mou) bathe ace ‘mmo satin of Teh-mk "one ak The al ame ofthe tengo Ichi ko ye tants 5 blow Tekno Atone ance Kinkos Hy—barchact. ‘Tenia eseach was yet be developed his ine andthe skims chars ply tine enormous popu sons te pues Gace community Host aces ‘new ihe inten pubsaton Sho ech wee. hhighing promising soaks Under eal ner Althouse ies ote simple ora Honda he ‘exe unl 1930 when be eta th cles agape ends on he promise "it hy in tam wou sp th nfomato set or ater tn yas 968 sadHoots exphined fo tere ne ht be Ltimok cha is apa of 8 ro fame Std ine)oTeska- sen (Conversion or uring Hit), Senko ‘Stat Landing spon A, Seon Spun B (Lead Spe Bote Chiou Spon SERINE Span The uc candy th wooing pants called he Kano out) (RTE nc moa sekng ptf tee charts The cloa is sit be based on the ie [Bun veal and the ket moves inthe dieton were the quis ete Pane vals har changed Hos so dnt tresses: wave pips, vee opts an ine pan princi He rgd dat the poi of he esau, once ‘iy ound wes tbs ole to under teeaet sas ofthe cat at les ‘Tact teow sbows the Chul Chart emposton. We wl ser the onstruction thu inerpreaon neque! chaps. “The bat pancs ook onthe bok tckign iy Hida Soak ws used Tosh Rada in 956 The most teal anton fe ti ype be ‘ale uit alae logis sometimes refered 1 98 Sub fina a Cnt fas cn ough says and won ans fr seve eu However Clo Chars ve developed hey we made ono ang eee all Bevin Wenere Wasi stil hl popelty wil incest, expesally onthe “ploy ode ego. Chapter 2 - Basics of Technical Analysis Most of pie he aanigf esi ei of mnt tweets cnr we pp ‘eral pena yrs eral aes ‘peste yc gw ng ma et ck Goer boo Wy! ener cals paces tps ae Scns at we mpc sy tings tts ae Spee a ‘uc mr encom io tse rea seg Te at Sino. eclin fst nc mr va acre ea ara you Wh doo ply oc er as rg the yo do ech amps for lang ena te hat at ast nes ls you most af ity no Yu pera el nate al sags ie 9. [And he ey pon ri te pecan cin aay s mere imp at tyne yuan dere nt Te bash ste Chas Do che in Cope a: oa odode pc bi‘Te rn your ond ‘eh pay he is br ntsc ovis athe ning of ‘Bis adgas dont type the op ore oto Is nour ate o wart be the clever guy who pot ina he very btm dou he ery wp, No adr cn consist doh anon uly know aot or8 op stompin ok a he ii Seen tomal around pst th wef canes king he ox pit Seeing tea eng the We mae aso ureters hat inane it pn easier (OS oust ind youre ung sal ae bong eyo ro {See ay np Eyal, at Dw ok bok tanto ose T shui Shite We mle lik poe oper go ack pad ake nesta poe Sain iy ae © Noma orem wins and we sor etihy fobetout pd pie lvls Ps generale arte eign they do eveing Reena neal Tor cer laser pT beg en alone meas ou wl sensu te bu trong at hepa toms Whereas se e910 ‘est person wt nena icy up the wean owns, we ou Sar Demy b ae the apd bom tet edad eet wt caeey es Batsbouteede wil cane seth Cloud Chars xpi pov rating hom peed i Pe yt an ‘Thoimpartence of higher highs andlowerlows ‘Toga undersea of how crowd pcolgy and technica te ley sland Is walktrough the diagram of pce move above Pri ally ing ‘pand fl bck oid suport of ter coming nat A wh thy tr att "te again From hoe the higher tl wt hy hit eel at 8 whee sles come in forcing pices tl gan The oll persis, ot aC, bye str cing nad he rie srs oie in At thi pine we dow thn ha simple bat scat FRople ding a are now peared tpsy more oh st an they weet ‘They nt eng iil bck a ars ne ey come ad ay Ta ses seeing suezad and the bers a happy ome na tse level So ys st ‘ing agai, i, at, hy bt restr, which ah ae tapers 9 Bea the sane level as People sold at his eve fast te and hey ar elng a the mane ee gin, Softies itp tog ot a pies ld ow selina having premised io yet ou tbe pie gt bck ois evel So the pee att set pines ic ov bt to fine aE apes ee Pepe come nasi, "around th ont that we ttt se tend. Buyers hve sn coming in at -rgressely higher levels A Cand Epa op more for hi set ime ‘lupe, Aer E Wenig oxpcsome reson st he same leve as Dan B) with Sellers coning hack but he prc bes tg ihe levels Ne high are ‘wish gal othe chica nd something ow anton oh unenlsalyst As he pie goes up, the inet early eso ee inal Ah pt ries ave now rie 0a ut peopl ae hap tke pot rie les ear $s ees an price flack oC. Tiree point where me woul expt ae supe to ie with whats ie end ino ye poe uA, Candresus agin afer ane snow ey and we ext oe sco i an smn Bu i in Fn ng hat ha wee TINO th hh sca ese tine ese ‘SUS etcer eet nar bfloeTh vae ont repere pe erdth htt Lota iocone sation ie Th vena ot el an SESLTc Wl nl nner tr neg sea be ping on a saree a mcr pese ng Thon worg em hte tcp we by Ace Bend each ote ie. Tis ‘eh esas coe tc ee ole They [Sua orn an ay we do agi Bt scons in ve TEC stom carcpst owe motets mich iy Son eet See i te seman he sme ee wees eon a nertigh aloe ow sera no er $GTeigrtwn uo ur i psedhan ee eval with enc ali he eer plies tring tings the tery Sothe sigs hat owned sean ra higher low lions by abisher high Te pam cas nl ea of ee ene mie tcc arb ve copes As chai Dow ple wl se ‘Scuwitm cts Hew scams ie te mo ha Dow ‘Spc A pray aya cr mores stow ih sean eon siSvnaurcrcng ener restau tt ote mar ‘heoaiden erm tenes oes show Clanl Chats ila or eshring ToS se wf in anes wil neon 2 eran chet be pans nine ngs end at Dw eel aswoutn sed are tid rican nl ron et by ea er ean Fo 25 nye mn Fini mts ih cle. Thy ite cin of me pars with 2a ng of tne ros reresong nial es fii of ep ‘he varios ches and en within ends with ve eso ian est of hs complex pcan seks hom thea bee Te ayo _Rjor ore ry ig wes rel povided yh can Ete wate sts Ad planetary Toc mak isthe nat ac ioe wy the wer mes The ‘soda end wil be lle aes hat may ose ocd weather endo reetrton em ty annoy ali lng MNS Sth inary te ester ans bra sper They can nor aa the bigger wees thy re between Te smaest vv er pee, wl vee toestimpact nd wil come go tor guy Asal olin sacha wl allots yest dering eters ost aust mats hres Dow ‘gga ce weno ing pers thy be reprint eae lor Wave Theory frm of sal wash ks one aes and oye, Thema cont try i at ces mone en Be TeStnhnconwah eecesh e neg et ea een tay comes wh aso of a who eo stink : . ‘Undentunng he ida o higher hie niger lows tienda el you bald ‘Your poston wha the mare spiking In December 205 was wily ped Inthe eda hae pelea ware fal tk ore fl sea yw chee, Arca the mil fhe moat ae wee fw days of hy sgt ine wi preton, While anything is pose, we shoul ave know eto expt ne lows alow the September ow of $6 at wh et St a icant lowe ih Fora ower low to occur, we ate kel tse lower igh ft te alae Bo on and ake highs ht the mtn fir se ht an upiend might be ting, wath ating, wei have ower igh ily llovel by over low bs wan ely ‘snl te win the meme te. This oes ehh he ed for being eo ‘beac hings down to the right tend which we wil lock a father te Chop 10,i ‘Sut hairpins they hrs of a pend igh ange oes. And ora Smt itso nant lover Ts sods ty ius mr frente ven os cperenend ae cn ea i ! 2 her ence “Tondtns- Suport an Resistance niyo rene to Tena Ars 0a na sil ve ame ese rs "Stace and supper eel ao ne Atheros hte ores cs npc nel nein ee ‘carac Ending soppor’orach and ch siting resinance’ Levels of ppt ‘BiScacc ae Std by reir ni and ews Ase ae expe sete Tec a whch tarps have sad andhnught spc bre ‘Most pie tres wil ve these Ky horlonsl eves cone within hem. Hee we seca har char ofthe Norwepan Krone vera the US llr Esc a epee dys trading rang. Not the namber of tne the Krone iets ight othe 73060 lvl ‘This as level the LS Doe cold nt beak (th Dlr s worth more Kren). Hareontal eves show ppt wel nha of curios ——— ‘The moe tines ine of esac spp i ouch rong it becomes Baal ‘rodent edo. The el manor ooh ie ne of ppt. esse is tc i rare have mare than i or even ea os, ln ct, ‘Risque often the case ht bythe tie you cn spot oo agen lea il ‘oon beak hich wy ex seteton of re change a iw Sumer ed Farming silo making th ed Your send ‘Sepport and ressance lines an aloo por ow, reflecting the change apices ‘rine, Tee we ihe UK stock mathet aera ery lear ine of | ‘nan upend vera four ear period. Six ise oh hs te at unl igh me Teds ines onc markt nes re ot slays thi ect se retoe aeanunbw at soe sence? “Tenia mls ist on esses. eee, tht some amour of oor otenen il berndom and unpresicle Nay erence cians ‘ei argue tha te rsa and you deft cima lo ee, epesially “htmitsumento dein es sce doe oe ea wey a Une Uc nck are oe 1 er wiry eens thong he pe {Computer nerd na), Ton rn of 2003 salt ext the evel Sod upper aun 209 on chr. Bt 2007 th ih te matt echo sot nap sth igh pois scaly 200 Did me tanta of ress ib ma Te pei ne space an woul ha 1 ee hat mare rips di satin lave Sea ai, “Thelpesuming thongh he idl is bit eens of action an ae to tem owe ran tn oat, Nenad sr clefouonand ew One ny pes level strech wl en cers «'unfeeton by esing ase peeve! Fos the i On hs chart Sone the 330 ae a sen pol th ps wih malay ns nates ols ior a aL ‘ha Fea ‘Continuation or Revers? ‘While he more oures you hve fn of upp esse confit eel to estonger ssp so of resking the pois sigan hig or shoul aes ‘ont our hing on te cart Page soa wil be faced whether ofthe 0 ‘eras shown ihe et pose wish areca amor ofeach athe. Inn irs case rics ging ihe hin woud ex lish ull ae hayes) sig. Rete new hihs te ood fom a tec perspective, With people now repel ay oe than they woe Before. Ie el bck below, we woul ae mates one ph than , wi te sbsequen aver lo: That wade beaish bers ess). Inte second example the eves wold apo A beak low Le bea om bearish we ae pong lover sl A bre abe Hane high lish eee ‘When price pl ck or pase eth this is genni clled a consaiatin plus. Besa rics send more tie tein than ty do reversing ee hy ‘thse phase aja a smal prt of ige ted. Ava gener the icon ess ave acosolton pase wl be ne ame rection hey ented Heme ‘hiss ai oe called contnation. Buty dion reversals ia ted hve 0 cat sone pon too, We do tray rw ether «beak inte ston the od ns occured unt we piste previous hgh or lw So t sty ya beat fo wa {orth break confimation As ug gid, comsolains sould ecu a est {ice aes ascent thee ae ha a it ale ne tht pies balish above Hand Hearn low and rein yous of at whe you fi ook sacar Patterns Threats mer of re pte at chan ori cas sti he they dso ape nove ne octal ex ate mre Ts en pt ‘einen rats a scenes Te pats pen er a {ster han olin We wilco ser want hare {origami ne oon et panty se eajonion, sw Clon Chas yu hrea sundried aor te inpnean ofp igh and knew, cn pete bros caren he se gyorg ner af tom ety pes shad Sloot pct of chau ity cme spate cad eee aceite hssReversal patterns ‘As gou might exec op and tom pater ore reversal pres Thee sve “aon, ut dae ope and dsb batters fete most como. ipl ep Fettoms also town ar feces, bt mre rele asa een d fo teeta ‘tng of spt an rssance They wl ely be as ci as shown ee 1 he Ideal pater of pric eaviur hit counts Antero tun sta the ‘ht ofthe aster determin slr messed move ot ofthe pater. The sy thing asin to wa eh rake suet patr score. [KE AIK \w = \wi ‘On ofthe sf evs pts i the ead ap souls, whee he rice tren orig form asco ue cs pobre tome ew thar store signi tan the eter sll Once mars the ight of he ptes, ‘he dstincsbermee he ead Te esting, deters the iy mee nse the break secre The second shold ely secure lo Yolube ad someties he nee ‘onto om the ter sede once he beak a scr Headland shoes pte fan elope caret tip is ot as amon st people hk ‘The pom cn alo be ered ich ht th mene moe I upoads Head nd Shoulders Paten ee fa Continuation pater “hse ter ec fl his ht he ps x pst inte don htt bat ire se xepom ese pts can lo ne | thom th exc he ot te pen wll uy uel o theenent of he oe he ptr They saga np ou knw wit toexpcf yor spot tem ns posh Tey a nay vc ov ahem of tenance an appt ine conegog ov cht is ety ad end thepmcolgy fiat prans witch pte Tet pee ‘Solin osgucring frum sive o he markt cry at wee ‘eprint Ronen sry ea rs ben {hrs ip owing at ily open rm he eter cael 0 oso Ibe brat wend er oo aps and Pena pens, show ow ae boy it each te and te Idee ast shape snp Penna a te te ipl wih suppor ood resistance eorergngon enc ther ang hy a as freee, Wheede i la you do really Know ho og the sdeays ve wil 90 fr‘ranges “rangle poten in rice ves fred where the resistance nd spp ines anyon cach er re sup The ac ae at he rasa bein he ieton (rth dass of th triage and ht his normaly wil oscar vo sof the way ‘Sng th tangle, Wetges eis exempta, stems ofthe diection ofthe break, intr he ren vo septa somal ese to breaks wih even ger eee Hence the saseaue! move in price pes aginst the isin i which the ne pots, Wedges rer another ume ators and re in Tac reversal pate Downwaré pointing wees work noes. “The bending ingle is were pres hve sng supp a he bse wit horizontal reslaane athe op. Byers ar ping progres oe agains sels no! ting proces gopher Te pan ikl fo be svn a pte nthe mile of an upend ‘Nhe sme tot em ida estas ha merged. The deceding angle works [Erovcncand stony cntination patern dug» dows Sane "ange tendo pve que power breakouts acer deton dso he sideways ate of he eseecee The etary ends our end er 0 he re sal be he ‘ection the ected he qr, Arye ngs feo at help ad rie ation opening ou vis eve lcs or when wl ec adi isliely be ‘ak without he squeeze let of cmersing Wed its “Te ch elo shows a descending tingle n Gena eyes This was 4 reveral insted of cominaston ate The loner highs ee ighiged and when ‘he rouph sport eve was beac prces moved dow marek = EE ‘The cha tow shows ajmeicel angle in gl prices which wa onion pate in his case me“Tech ofthe Fa sow shows a sidomys conslation age which oy be roidere a. —=——— sae Price behavourin trends and mean reversion eed obit ai em ean hme cet ty smling data ner prod wns 9 stata ehnique own as Lest Squares Regrsion SR) Te at ow sows bow he sok ce of BM has moved oe then ar oo. The LS ines a trough he dt ith pr ines daw 40 ‘Std dons fo he US is Satay wo sana deiatons wl contain toueiy 989 of ries and we ac bow wh theo bande rere price arma revere mean coal tod. veh lath ase pies ne tendo spond mere ine a the pp bd Fhe en hae ye might expel n an pend Prin nn moe ey gic mone exes he ‘he Inuparenis pcs wl feqtenty wander oh ae oi ed ee jpn sharply tthe tp of th tal chine The eee spi adorns ee np. ‘noes down othe base of the wend remot ly Tis sieceovstct ape is $y charters of ice beour nnd, Tho pater hve ented Iai, Chapt wl fe cru win ae hel in tc pe athe example above we tose pices wandering ot ofthe pte tal. Te fle to ach he fp of be ‘hans and pes nt bending athe hse suppor line eo deters of ree andthe ely eo of the up Vea attend a ten whe cs more Feyond temo stad Gvtons sacral tn hat price rend dns, otume Cares Dow ms the fs wo highligh he importance of lame er acest 0. ‘Tretds ideal eed wo be core by hier than got wae Be kenmore sess But volume data ca be probit. Fr ns nh cence ae ‘pote wth cach trade With stocks sme tad might eho o bak ad st ‘tar wher tango eling wen on Se ta a pure x ach ew ds Trin sears Aad nthe emergence of cng exchange and plo (Gometines knows sdk pol) sa mare and move Sorts sh as Cot ft Dienst elt stan over piety in vou. With commodities rang ‘lune ean ecear serons ion series of cotati the tof Ove ‘he Cou aling OA Exchange dating tween bers ar hi at valle eter Mos ofall many dies stamens arent minty hey traded ‘cht soting tends in volume can be diet Liga a wating «maori [nares ssh a sal eapatston socks ad ding soe caro is el now among ehnsiats tht temore ely smshing ere he te tech nals will wk Lack oily meas pes ue moe the mercy of age aes ‘fe big mart ple na gen name ome cart eval py an ‘histogram float with enc ay wu epee ae etl br sho Belo “The volume brs coh Be colour coded a they ae thick scoring twtr adap dey a dam 2 | waved dattat argacemun neta (ne ofthe probs his stern pesto statis quite clo gta bal ptr of lune Tis an be eed y sings clave volume meso ‘ch as'On Balance Volume (OV), devise by Joe Grain he 19608. Ths movin Tne is called oer th str y ing wl ob cumulative tu on dys ‘tere th ros au lose higher han he previous day’ cle and subtracting the alume tr dw day, We can sen fect low ho th canteens ‘Rad han ne dvi! br Trae ct lo Be pido hve cart 3 la Ita awh pce tt aie eee Pe Divergence “The en f convergence ah dergence erento diet charts oman theme ‘nec nse Chars Dow ized ths when eprops tt he sia nde Traps Auras mol cof ane aot fray ol sil be ‘led Hiratcement tht trends ns igh ure sb believed nasa it ne ‘wih tee of what we now al emespence nd inergene and OBY is especialy dr spoaing hs Ife oo tte same char sons ese BP sles aking 9 ne tghs but be OV ‘hort ding hese (et coneging). In fa ee fe cman volume a BP ‘Sr raking down i October an wet sieray wee BP share ec cotued fine ora er more wks Refoe ping stew swell When BP bai o new high he OBV dn which x dergece. sh best vai? Well the pce as broken ot wich alish bu jou mou be way of he reakot ule OBV ves her IFOBV reo lows in his BP oxample at woul bea Bash sin carer Tarra aT D252 Gtow mgr aoa ane ‘The char above of GE shows how th OBY wend ue nd ke new lows mile ‘he GE share pie comin a ise. How ea sb apyning? Whcoctr you see Serge and itp be eyelets wor emis yous hw th ino intr isclealte tte ese of OB, we ow hal volute ae othe ie on tp dys and subacted on dawe a So sth pric sil ying up while OBV i fing itrcie hat on wp thee ot nh lume anon down a tee alt. ‘This clever drut of ares rea lus ha rea cry silo in th mae (Ofcourse the same spl reverand ere we ee an cx of ccumultion Visage tres before pices sare he RRCh ttc ean Diver i an id tts itl in edn ther tecnica indies a5 me wl evita capers Summary points + There your end, Dan ae ait {Youn onl ly nw ao ra atom etapectely 1 Higher hip and gr lows re wt me expect ian peed 1 Lower hig and lower re whit we expecta doen 1 liely hat tire or ore tend ze cig on paces ata gies ine 5 Amayeiyoietiy eyes or aes suppor and ssn or pies * Coninato ster oscur ore esa nine wh he tend tan reversals {Theme ince oof pate en ina in magntadeto he move no the pater + Pricer wl ever nthe mean daring he wed 1 Nola in pcs afer ang peri often i normaly igo ond eer 1 Votan bes epesned coms in, ok for degen wit pice car ee ae Chapter 3 - Moving Averages With On alace Volume we looked moving sinless bldg each ry wih asl tithe cleulton Moving averages rs olin cleltion ‘the yale of th average om ech dy rive at yong bck ever ard So fo {simple 10d verage we tart a einige pie hry don ay 10 me ‘Malthe pies oe for he at 1 a an ve y ID 0 gt he ana is, “This fhe fist lt eu moins erage. One next ay we ook bck 10 ys such tat the est yi now ot ieudd in he culin al lt he verge ain. ‘Sovwith cach ew day we uke mt the cleo, we do the ay 1 ays age ok ‘heeqtion, And wee ght hough he sry, shot he average of pes ‘hanging, © moving al eine eager Moving aerages a norally dav onthe pice chat ease iis sf ound ‘where the price in elas the sverige Ite pier abe the wags os ate ‘orinuing oie ut i he ric altel ring reap ts el ws pres ‘Shr tr aang fst thy hve ne hobo the sergio. Thi ‘Sheth alelton gin, Fr he pec to adn al gh tae he ast. eos pecs es dramatic Loch how a the sit fhe io. Ate det ‘ies rp ot ofthe clei andthe ch aner now ones et a hep sow omer tha isaerage The average wl ke some neo eh up by elcid gh ies wie ow ow one ec Sia ‘Understanding the wy ht he prea te veg lsh oe ster, othe Calelton i smonsmous thw Cal Car ae cessed. So tin fo ri with ‘hisseton wl and you in good sed fr mastering Cloud Chat oa