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Dow Theory (Tools to identify trends (Support and Resistance (High/ Low,…
Dow Theory
Tools to identify trends
Trend line
Trend Channel
Moving Averages
Direction of MA
Position of Candlestick in relation to MA
Support and Resistance
High/ Low
Close
Key Psychological Level
Pivot Point
Three major phrases
Accumulation
Mark up
Distribution
Market has three trends
Types
Major
Intermediate
Minor
Directions
Up
Down
Sideways
The Averages discount everything
Trend is assumed to be in effect until definite reversal signals
Volume must confirm each other
The Averages must confirm each other