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Pinocchio bars

  • By Martin Pring,
  • Active Trader Magazine
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Technical analysis is pretty good at identifying trend reversals at a relatively early stage and allowing you to ride that trend. That should be good enough for most of us, but many traders would also like to consistently predict the duration and magnitude of the next trend. That’s not possible, of course, but there are some instances where specific setups or characteristics are often followed by above-average price moves. Read on to learn more about Pinocchio bars and how they may indicate when traders might get caught leaning the wrong way.

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Article copyright 2011 by Active Trader Magazine. Reprinted from the April 2010 issue with permission from Active Trader Magazine.

The statements and opinions expressed in this article are those of the author. Fidelity Investments cannot guarantee the accuracy or completeness of any statements or data.

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