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| Build indicator knowledge through the core elements of price, time and volume. Large-scale TA relies upon complex data to measure public sentiment and broad fund flows. But the vast majority of common indicators use simple snapshots of price and/or volume over specified time periods. Time invokes an indicator's power when it compares key values and marks developing trends. Indicator time frames can destroy the best tool's effectiveness when they don't align properly. Alternatively, resonant time readings with mediocre tools will generate startling accuracy. Study of market volume has two primary functions. First, it attempts to quantify actual levels of accumulation and distribution hidden under the massive flow of the ticker tape. Second, it gathers up the crowd's divergent impulses and evokes graphic images of their herd behavior. |
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