Some types of charting software are capable of displaying the offer price but most commonly the price you see is the bid price.
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The main point I want you to take away from the Dow theory is that there are three types of trends, a primary trend, a secondary trend and minor trends.
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This to and fro, buying and selling in the direction of the trend plots out a recognizable channel of dynamic flux of the trend.
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In an attempt to give more importance to more recent prices, different types of moving averages have been developed.
Movement of this average is effected by adding the next new value of the set and subtracting the first value of the set and again dividing by the same number of values in the set being studied.