Some use an actual figure and some a percentage figure.
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These channels within channels are plotting the short, medium and long-term trend.
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Which Moving average to use Any time span can be considered from minutes to years.
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The first piece of evidence that this might be a top was when the 9 period moving average crossed the 18 period moving average.
My interpretation of the Dow theory above is very brief as it is beyond this book to delve to deeply into any one particular subject.
Have a look at the two charts below.