Integrated Technical Analysis
■ (^) Price level or zone at which such activity or price reaction may occur
■ (^) Type of activity, whether reversal or continuation
■ (^) Subsequent price or market direction resulting from such activity
However, an exception has to be made with respect to the projection of cycle
peaks and troughs. Cycle analysis allows for the prediction of potential bullish
and bearish cycle extremes, as well as, in some cases, the expected price level of
these cycle extremes based on the projection of the cycle magnitude from the
fIgure 27.1 Reliability of Price Clusters (Multiple Barrier Overlays).
fIgure 27.2 Reliability of a Single Dynamic Price Overlay.