Pring on Price Patterns: The Definitive Guide to Price Pattern Analysis and Intrepretation / Edition 1

Pring on Price Patterns: The Definitive Guide to Price Pattern Analysis and Intrepretation / Edition 1

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by Martin J. Pring
     
 

Today's most comprehensive review of price patterns—what they are, how they work, and which will work best for you

Technical analysis does not deal in certainties, only probabilities. Yet those probabilities improve dramatically when traders understand the psychology of price patterns and how that psychology influences traders' behavior and the movement of

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Overview

Today's most comprehensive review of price patterns—what they are, how they work, and which will work best for you

Technical analysis does not deal in certainties, only probabilities. Yet those probabilities improve dramatically when traders understand the psychology of price patterns and how that psychology influences traders' behavior and the movement of prices themselves.

Martin Pring on Price Patterns provides both new and experienced technical traders with today's most in-depth guide to the analysis and interpretation of price patterns. Pring, among the industry's most esteemed researchers and practitioners on the skilled use of charts and patterns, takes a detailed and implementation-based look at:

  • Virtually every popular price pattern, from classics such as head-and-shoulders to shorter-term patterns for today's fast-action traders
  • Market-proven techniques for using one- and two-bar patterns—increasingly vital for day and swing traders
  • Tips for placing stops designed to kick in only when the inevitable false breakouts occur

To determine how prices are most likely to move, and when, it is vital that you first develop a thorough knowledge of price patterns. Martin Pring on Price Patterns

introduces you to the patterns that are working—and working consistently—for traders in today's volatile markets, then helps you determine which will work best for you and your personal trading style.

"Stocks don't sell for what they are worth, but for what people think they are worth."

—Garfield Drew

Legendary 1940s technician

Despite what many "experts" will have you believe, fundamentals—PE ratios, profit projections, and the like—don't directly impact market performance. Instead, what drives performance is investors' reactions to those fundamentals, reactions that are amazingly consistent from one market to the next and lead to patterns of price movement that can be equally as predictable.

And history has shown that traders who understand this distinction will consistently have the edge over those who do not.

Martin Pring on Price Patterns provides today's most up-do-date exploration of price patterns, and how they can be used with amazing accuracy to forecast not only how long an up- or down-trend will continue, but at what point the trend is destined to reverse its course. Covering the relationship between key technical analysis aspects and price patterns in language that is both clear and convincing, and based on a massive research program covering over 10,000 securities, this valuable and hands-on book includes:

  • Classic formations including head-and-shoulders, triangles, double bottoms, and more, along with outside bars, key reversals, and other shorter-term tools that have become popular with swing traders
  • Descriptions of the underlying psychology of a price pattern formation, essential in helping traders better judge the significance and potential of a specific pattern
  • An hour-long DVD training session—featuring excerpts from Pring's popular "Live in London" video series—that covers the building blocks and select formations of price patterns

The key to success in trading, as in so many endeavors, is to ignore what you hope will happen and focus instead on what has already happened. Martin Pring on Price Patterns reveals how and why price patterns have come to be regarded as today's single-best tool for traders looking to first determine what has happened in the markets, then use that knowledge to dramatically and profitably improve their ability to forecast which direction a price is likely to move and when.

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Product Details

ISBN-13:
9780071440387
Publisher:
McGraw-Hill Professional Publishing
Publication date:
08/16/2004
Pages:
350
Product dimensions:
6.40(w) x 9.30(h) x 1.22(d)

Table of Contents

Introductionv
Acknowledgmentsvii
Part I.Basic Building Blocks1
1.Market Psychology and Prices: Why Patterns Work3
2.Three Introductory Concepts9
3.Support and Resistance Zones: How to Identify Them22
4.Trendlines35
5.Volume Principles as They Apply to Price Patterns54
Part II.Traditional Patterns69
6.Using Rectangles, a Case Study for All Patterns71
7.Head and Shoulders96
8.Double Tops, Double Bottoms, and Triple Patterns127
9.Triangles149
10.Broadening Formations169
11.Miscellaneous Patterns188
Part III.Short-Term Patterns209
12.Smaller Patterns and Gaps211
13.Outside Bars241
14.Inside Bars259
15.Key Reversal, Exhaustion, and Pinocchio Bars269
16.Two- and Three-Bar Reversals289
Part IV.Miscellaneous Issues315
17.How to Assess Whether a Breakout Will Be Valid or False317
18.How Do Price Patterns Test?335
AppendixIndividual Patterns Summarized347
Index354

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