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It’s a theory to identify demand & supply with volume and to understand the price patterns based upon the market movements, which requires a minimum of 2 years daily charts.
Most old method of analysing the stock price movement by looking into the demand and supply.
The old and golden method in the field which was derived by dow in 19 th century , this help us to derive the trend of the stock using limited datas in line graph . This methodology is based on supply and demand with respect to the volumes
It helps in understanding the Market trend . By using 2years data, the peaks and dip are classified into Top & bottom .And then by the comparing ,the top/bottom with its previous top/bottom ,the top/bottoms are classified into HT,HB,LT,LB .
if the sequence is HB to HT ,it is bullish trend
If the sequence is LT to LB ,it is bearish trend .
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