Thursday, April 21, 2011

The Anti - A swing trading pattern

The Anti is a price/indicator setup popularised by Linda Raschke and Larry Connors in their book,  Streetsmarts. The pattern dentifies a small pullback after an impulse, trending move. The pullback may look like a bull/bear flag on the price chart, OR it may repersent a pullback in an indicator. The Anti can be identified in indicator which use two lines - fast and slow. The slow line should be used to identify the trend direction. The fast line moves against this trend. When the fast line turns back in the same direction as the slow line, the Anti is confirmed.

At least for Technical Analysis, a picture is worth a thousand words. So here is a chart showing the Anti.



2 comments:

alphabet1 said...

Jefery Kennedy of ElliotWave International calls it a "Hook" / "Sling"

Gulshan said...

Sir

Help needed.

If I am using 34 period wma on hourly bar then converting into 1 minute bar, periods becomes 2040 and again converting into 5 min bar then periods becomes 408. But when comparing hourly bar and 5 min bar on same time the wma gives different values. Why is it so?
My purpose is to see the value of wma on 5 min bar calculated on hourly bar.

Thanks

Gulshan