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In planning the book； I realized that although more and more investors。had broadened their approach to allow for international markets； the existing technical analysis。literature was。still quite localized。 In meeting with technical analysts。and traders。from around the world and from organizations。such as。the Market Technicians。Association； I've learned that each region has。its。own experts。who have successfully tailored their technical strategies to the local markets。
The goal for the book。was。to assemble some of the top minds。in the field from all parts of the world and have them share their insights。into how price and volume analysis。can help investors。identify profitable trading opportunities。 The end result is。a powerful illustration of how interrelated the financial markets。really are： it's。also a testament to the global reach of technical analysis。as。a language of the markets。
Each chapter in Breakthroughs。in Technical Analysis。is。intended to stand independently。 You can study a single chapter； and then apply those concepts。to your own charts。and markets。before you move on to another。 Keep in mind that although the author may be writing about； say； Australian index futures or U。S。 Treasury spreads； the concepts discussed can be readily applied to any。market； and often on different time periods than those discussed in the chapter。
We start with Ted Hearne's。discussion of a technique called 〃Drummond Geometry〃 as。applied to the foreign exchange markets。 You'll find it's。a great breakdown of how open/high/low/close data can be used to identify support and resistance； meaning levels。at which the price tends。to reverse。 His。examples。demonstrate the value of studying different lime dames。（that is： daily； weekly； monthly； etc。） to see how short…term price moves。flit into the long…term trend。
Tom DeMark。goes。to great lengths。to analyze price trends。and ways。in which markets。reverse direction。 In his。chapter； DeMark。discusses one of his。market…timing techniques； TD bo 。。 Although many traders。have worked with TD Sequential 。； one of DeMark's。other indicators； this。chapter shows。when and why。TD bo's。more conservative approach to trend exhaustion can help an investor identity low…risk trading opportunities。 He also presents。methods。to tweak。both these techniques。to make them more aggressive； methods。that can often give an early warning of a trend reversal。
Nicole Elliott breaks。down a traditional Japanese technique called Ichimoku Kinko Hyo； in which price data is used to create a series。of indicators。to measure the strength of a trend； as。well as。potential support and resistance areas。 This。trend…following technique is。used heavily by Japanese investors。and has grown in popularity in the United States。and Europe。 Many people who see this。technique for the first time are overwhelmed by the amount of information the chart provides。 Elliot does。an exceptional job of cutting through that noise to explain the true value of Ichimoku charts。
Yosuke Shimizu takes us。through the world of candlestick。analysis from a Japanese perspective。 Many of you may have heard of or even used patterns。with peculiar names。such as。〃abandoned baby〃 or 〃hanging man。〃 Shimizu…san explains。why these names。are used and how they can add great value to your investment approach。 His。chapter； translated from Japanese； provides。original insight into why traders。have used these techniques。for centuries； in a language that evokes the spirit of the region。
We return to a U。S。 perspective with Constance Brown； who in her chapter shares。with us。her powerful charting acumen。 Incorporating Gann analysis； Fibonacci retracements； and her own proprietary indicators； she has。developed a sophisticated methodology for trading market moves。more effectively。 Brown graciously includes。the formula behind her unique indicator； the posite Index； and demonstrates how to efficiently bine technical approaches。
David Bowden takes。us。to the Australian markets。through his。own trading experiences using Gann analysis—a series。of technical indicators。that are often misunderstood because of their mystical nature。 Walking us。through his。successes。and failures。in anticipating tops and bottoms； Bowden's。discussion of the cyclical nature of the markets is。a rare treat。 Reading this。chapter； you'll rediscover the value of the relationship between time and price and its importance in market fluctuation。
Traditional equity investors。are increasingly。including options。in their portfolios。as。a way of managing risk。and of raising returns。by the power of leverage。 In his。chapter； Bernie Schaeffer gives。a well…written overview of options。strategies。and then moves。on to analyzing volatility lo identify profitable options plays。 If you’ve been considering incorporating options。into your investment approach； you'll want to read this。chapter first。
From Europe； we have Jeremy du Plessis。with a chapter on point and figure charts； which are frequently used in futures。and modities。exchanges。 Du Plessis。shows。how these charts。have evolved to better identify support and resistance levels； breakout points； and price objectives。for any market。 He wraps。up with a discussion on applying conventional technical indicators。to point and figure charts； a concept that even longtime point…and…figure devotees。will find pelling。
Robin Mesch is。one of the leading experts。on Market Profile 。； a method of analyzing the distribution of trades。throughout the day to identify where supply and demand will e into play。 Investors。who use this。technique are familiar with how price action often forms。a bell curve by。the end of the day。 Mesch describes。how to apply this。technique to price spreads； showing how anyone trading security pairs can effectively。gauge when a spread is poised to widen or lighten。
We conclude with Robin Griffith’s。presentation of cycle…related investment strategies； from multiyear and seasonal cycles。in the global equity markets。to stop…losses； scaling trades； and money…management techniques。 He presents。his。ten mandments。for trading； a solid guide to intelligently tackling the game。
The title Breakthroughs。in Technical Analysis： New Thinking from the World's。Top Minds。truly captures。what we tried to acplish in bringing the insights。of these experts。together。 The ten contributors。are among the leading technical analysts。in the world； and they all demonstrate specific。techniques。they've used with great success。over time。 Some of our contributors。present new； techniques。that they've developed or refined in the last couple years。 Others。take methodologies。that have been used for decades。and show how they can be adapted to today's。global financial markets。 Regardless。of their geographical location； professional background； or preferred trading strategies； these experts。make one central theme clear in every chapter： Technical analysis。is a vital ponent of any trader's。tool kit。 An informed investor is。defined by his。ability to incorporate all available market data into his。daily trading routine； and。 most important； he has。to take into account the investor psychology inherent in price charts。
We believe this。book is。a useful resource for identifying techniques。that can add tremendous。value to yo