Your Child’s Geometry Tools
Away from the computer screen, if you plan to present your findings to a group or review your portfolio on your commuter train on the way to your day job, keep a small plastic ruler in your briefcase. You can draw trendlines and chart patterns quickly, although maybe not as precisely as your software.
A compass will allow you to measure patterns and project targets for possible breakouts. It will allow you to compare chart features to one another in terms of both price (vertical height) and time (horizontal length). You will be able to measure turning points in the market to find cycles, as well.
Do not be shy. If you are careful, you can even use the compass on your computer screen to do the measuring. It’s probably ...
Get Technical Analysis Plain and Simple: Charting the Markets in Your Language, Second Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
