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Simple Buy
Simple Sell
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The most basic of all signals, the Simple Bullish Buy signal, is formed by a
column of Xs, then a column of Os, then a column of Xs. This is the
Simple Buy above.
B-2--Simple Bullish Buy with a Rising Bottom
The Simple Bullish Buy with a Rising Bottom is similar to B-1 except the
bottoms of the B-1 and B-2 differ. In B-2,the bottom O in the most recent
column of Os is higher than the lowest O of the preceding O column, which
is not present in B-1. Having rising bottoms means support is coming into
the market at progressively higher prices with each decline, and that
makes the signal stronger than the B-1 which does not have rising
bottoms.
B-3--Breakout of a Triple Top
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The Ascending Triple Top is actually two simple bullish signals (B-1 and/or
B-2)given in succession in five columns. If the bottoms are rising along
with the rising tops, it's more bullish than if the bottoms are horizontal.
B-5--Spread Triple Top
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The Spread Triple Top is similar to the Breakout of a Triple Top (B-3)except
that it is spread over seven rather than five columns because one rally
failed to match or exceed the highs of the prior X columns and it thus
takes an additional X column to break the horizontal resistance.
B-6--Upside Breakout above a BullishTiangle
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rises one box higher than the high of the preceding X column. The triangle
is bullish because the last signal prior to the start of the triangle was a buy
signal.
B-7--Upside Breakout above a Bullish Resistance Line
The resistance line in the Upside Breakout above a Bullish Resistance Line
is drawn as a 45 degree line up and to the right beginning from the lower
right hand corner of the lowest box containing an O not bordered by an X
on its right. The longer the resistance line holds, i.e. the mroe columns of
xs that approach the resistance line but fail to break through, the more
bullish the ultimate breakout.
B-8--Upside Breakout above a Bearish Resistance Line
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The Simple Bearish Sell signal occurs when the prices falls, rises and falls
again with the current decline or current column of Os dropping one box
below the lowest O of the prior column of Os. When the Simple Sell occurs,
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it suggests that the traders close out their longs, also consider a short sale
if prefer.
S-2--Simple Bearish Sell with a Declining Top
The Simple Bearish Sell with a Declining Top is more bearish than Simple
Sell (S-1), because it has a declining top as evidence that selling pressure
is coming in at lower levels.
S-3--Breakout of a Triple Bottom
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The Spread Triple Bottom has the basic triple bottom design of the S-3,
but the formation is spread over seven rather than five columns.
S-6--Downside Breakout of a Bearish Triangle
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The Downside Breakout Below a Bullish Support Line occurs when there is
a downward penetration of a well defined bullish support line.The bullish
support line is the 45 degree best-fit line of bottoms and the the
penetration must completely clear the support line, not just touch or
straddle the box through which it crosses from lower left to upper right, as
well as decline one box below the lowest O of the prior column.
S-8--Downside Breakout Below a Bearish Support Line
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