T = Top = The point of exhaustion, when supply is overwhelming demand; supply can be equated with "sellers", and demand equated with "buyers".
DT = Double-Top; TT = Triple-Top; QT = Quadruple-Top; 5T = Pentuple-top. ["An "S" preceeding DT, TT, QT, 5T represents a "Spread" topping action, as opposed to consecutive tops].
B = Bottom = The point reached where demand (buyers) overtakes supply (sellers) and prices are buoyed.
DB = Double-Bottom; Tb = Triple-Bottom; QB = Quadruple-Bottom; 5B = Pentuple Bottom. ["S" preceding DB, TB, QB, 5B represents a "Spread bottoming action, as opposed to consecutive bottoms.
BRL = Bearish Resistance Line. Support becomes resistance once a positive trend turns into a negative trend. Trading below resistance in counter-trend rallies should be monitored closely as they approach overhead resistance levels.
BSL = Bullish Support Line. A "positive trend" (PT) is established once the primary bearish resistance-line (BRL) has been breached and prices close in positive territory.
RS = Relative Strength. Measures performance against the various market Indices, benchmarks, other asset classes, sector, sub-industry groups or peers. The stronger the "RS" the better.
"buy" = In Point N Figure, a simply "buy" signal is given once a column of Xs surpasses the previous column of Xs.
"sell" = Conversely, a "sell" is when a column of Os drops lower than the previous column of Os.
CP = For practical purposes, A "CP" will refer to the current or closing price of the asset at time of writing.
A Reward-to-Risk Ratio is a calculation determinant of the amount of capital hoped to be gained via use of a price objective "P.O." divided by the predetermined amount of loss, based on stop-loss point. For example:
(EEM) iShare MSCI Emerging Market Fd ETF $38 c.p. P.O.=49 Stop=35. This position yields a possible $11 gain and also a possible $3 loss. 11 / 3 = a 3.67/1 ratio. At minimum, one desirs to gain at least 2X the amount of possible loss.
P.O. = Price Objective. Can be "bullish" or "bearish" target price determined from PNF vertical/horizontal count.
STOP = Stop-loss Pt. Point to abandon trade to preserve capital.
·admin on October 07 2009 22:19:48 ·
1 Comment · 1740 Reads
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