Lingo topic · 33 terms
Support, resistance and trends
Floors, ceilings, and which way the river is flowing.
A
- Accumulation AreaA sideways price zone, often after a fall, where bigger players are thought to be quietly buying before a move up.
- Andrews' PitchforkA three-line channel tool drawn from three swing points, used to map where a trending price might find support and resistance.
- Ascending ChannelTwo parallel upward-sloping lines that contain price as it makes higher highs and higher lows.
- Ascending Trend LineA line drawn under two or more rising lows, acting as a sloping floor in an uptrend.
B
- BasingWhen a price that has been falling stops and moves sideways in a tight range, building a 'base' that may come before a rise.
- BreakdownWhen price falls through a support level or the bottom of a pattern, often bringing more selling.
- BreakoutWhen price bursts through a resistance level or out of a pattern, often with a surge of momentum.
C
D
- Descending ChannelTwo parallel downward-sloping lines that contain price as it makes lower highs and lower lows.
- Descending Trend LineA line drawn across two or more falling highs, acting as a sloping ceiling in a downtrend.
- Dow TheoryA century-old set of ideas from Charles Dow about how trends form, last and confirm each other.
- DowntrendA market that keeps making lower highs and lower lows.
F
G
H
L
O
P
R
- RangeThe band between the high and low a price moves within, or a market stuck bouncing between a floor and a ceiling.
- ResistanceA price level where rising prices tend to stall and turn back, because sellers keep showing up there.
- ReversalWhen a trend changes direction: an uptrend becomes a downtrend, or the other way round.
S
- Schiff PitchforkA variation of the Andrews' pitchfork drawing tool, with a shifted starting point that suits shallower trends.
- Sideways MarketA market moving within a horizontal band without a clear up or down trend.
- SupportA price level where falling prices tend to stop and bounce, because buyers keep stepping in there.
T
- TrendThe general direction a price is moving over time: up (higher highs and higher lows), down, or sideways.
- Trend ChannelTwo parallel lines drawn around a trending price, one along the highs and one along the lows.
- Trend LineA straight line on a chart connecting a series of higher lows or lower highs, showing a trend's direction and slope.
W
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