Essential principles of Dow’s Theory
Write down the essential principles of Dow’s Theory?
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Dow’s Theory is the oldest and the well known theories of technical analysis. It was presented by Charles H. Dow.
Dow’s theory has suggested six essential principles which are illustrated below:
- The averages discount the whole thing.
- Market has three chief movements. These are secondary, primary and minor movements.
- Lines point to movements. Such a movement points to either distribution or accumulation.
- Price-volume relationships offer background.
- The price action examines the trend in the market.
- The averages should confirm that is, the movements of two dissimilar market indices should confirm each other to confirm the all trend.
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