Quote from austinp:
bulkowski's chart pattern books
suri didella's chart pattern book
all the others are irrelevant
"All" Pretty strong word, and one helluva laundry detergent.
An encylopedia of chart patterns, eh? Flags, pennants, head & shoulders (also one helluva shampoo) double bottoms, triple tops, etc etc, etc.
Do, eh, chart patterns resolve with predictabilty? Apparently they do for Zanger. And Magee.
Instead, I'm going to suggest : The Taylor Trading Technique written by George Douglass (yessss that's TWO S's) Taylor circa 1950.
Taylor was a floor trader. You can tell by how difficult the book is to read. In essence he didn't "major" in journalism. Traded in US Steel over and over and over from 1933 to 1950. Eh, there were no PC's then. Pencil and paper. Waiting intra-day for your mark.
It will take at least two readings and probably more. Mine is quite marked up with notes. As such, a text book rather than entertainment.
Some "get it" some don't. Basically measuring price moves from High day 1 to low day 2 and vice versa. Low made first or high made first. A buy day, a sell day, and a short sell day, with a possible extra day in the cycle. Rinse and repeat. Yes, Virginia, there is an element of predictability but...........it's not infallible, there are head fakes from the specialist and occasionally external events such as 9-11. If you trade the same issue rather than flitting from flower to flower, you'll get to know the "personality" Book's about 20 bucks.
To trade over and over in the same issue, you'll probably need a 475 to circumvent wash sale rules.
As for patterns, the breakout (or breakdown) of a basic triangle (declining resistance and rising support) well..... BEFORE.... the apex is a pattern I've found reliable. Ditto for a broken neckline with a long term perspective and waiting for a failed retest of the break. Nevertheless, I prefer quantifying things.
Incidently, I own at least 150 books dating back to 1910. Good old Rollo Tape; and paleeze spare me on Livermore.
