1ADSK trade ideas
ADSK buyers strongLast trading session, we saw fierce selling from the sellers but buyers came back to defend even more aggressively to end the day green, indicating that buyers are still in control here. Thus, we might have legs to return to the highs for ADSK around 174.5 where we can lock in some profits as profit taking can come back again there...
9.3.17 | Educational Content | Dows Theory Applied to Patterns(Code-Name_Virtue)
Charles Dow's theory states the market has three trends, Primary being the longest, Secondary moving along the Primary, and Minor (the shortest) moving along the Secondary. Consider which level of the trend you're chart pattern is forming on and it will help you determine which type of position you should focus on for your trade. In the example above we see that the Cup + Handle chart pattern would have been classified as a Secondary level chart pattern, and the analysis therefore should focus on a Secondary level position.