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Tagged: Deamdn, Price, Supply, Technical Analysis
dow theory major criteria was to identify the tops and bottoms of chart.the chart should be minimum of 2yrs data.its to make analysis of taking decisions of long and short position of a shares
it requires 2 yrs data to identify the market trend using dow theory . although it is still used primarily to identify market direction. intraday use is limited and so is not commonly applied
<span style=”font-family: inherit;”>Dow Theory forms the building blocks for modem-day technical analysis, this theory </span><span style=”font-family: inherit;”>is not without criticisms.</span><span style=”font-family: inherit;”> Dow Theory for being too specific about the requirements </span><span style=”font-family: inherit;”>needed to identify a change in trend.</span>
dow theory forms a building block for moderm days technical analysis this theory without critics. dow theory being too specfic about requirement needed to identifi change in a trernd.
Needs around two years of data for analysis and is not useful for intraday trading. It only tells us about the market direction. It still remains undisputed as its basis is strong and has a success rate above 50%
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