第二章： 谷物交易技术方法及趋势指标（江恩期货教程中文版）——004 [复制链接]

Rule 17 –SECOND AND THIRD HIGHER BOTTOMS AND LOWER TOPS
第二个和第三个更高的底部及更低的顶部.
Watch the second and third higher bottoms. When an option breaks a second higher bottom,consider the main trend has changed to the down side.
Watch the second and third lower tops. When an option crosses the third lower top, consider the trend has turned up, at least temporarily, and go with it.
观察第二个和第三个更高的底部。当行情跌破第二个更高的底部时，可以判断主趋势已经向下边改变了。
观察第二个和第三个更低的顶部。当行情跌破第三个更低的顶部时，认为主趋势已经掉头向上了，至少暂时要顺应这段趋势。

Rule 18 –SECTIONS OF A MOVE
分段运行的市场
It is important to study the different sections or moves that an option makes between the first low level and the first, second, third, fourth, or fifth tops of a move. After an option has had several moves up and reacted, when it is near the end of the move, the gains over the last previous top will be less and the run from the last bottom to the last top will be less than in the early stages of the movement, an indication that the move has run out and that a culmination is near. Then apply your other rules and watch the Trend Indicator and 3-day Chart for a reversal in trend.
在研究行情在不同的段（浪）内或者在第一个低级水平线与第1、2、3、4或者第5个顶部之间的运行情况中发现其非常重要。在行情已向上运行几段并背离后，当其即将结束运行时， 在最末段的前期顶部上的资金增益将会是比较少；从最后的底部运行到最后的底部的资金增益也比从早期阶段的少，迹象表明行情运行已经结束，并且已经接近了顶部。然后应用其它规则并在趋势指标和三日图表上趋势的反转。
In a declining market, apply the same rule. When the declines or sections of a move become shorter, it indicates that the selling pressure is waning.
在熊市中应用同样的规则。当下跌或者分段运行变得越来越短时，预示空头力量减弱。

Rule 19 –3 FULL-CENT INDICATION AT BOTTOM OR TOP
顶底处的完整3美分
In very weak markets watch for the first advance of 3 full-cents from any low level and in very strong markets for the first reaction of 3 full-cents which will indicate a change in the minor trend.
在非常弱势的市场中留意来自任何的低水平级别的第一个3美分上涨和在非常强势的市场中整个第一个3美分反弹，这将预示次级趋势的改变。　
By 3 full-cents I mean, for example, from 60 low, a rally to 63 would be 3 full cents. If this low was 59½¢, we would not count 3 full cents until the option rallied to 63.
完整3美分法的意思是：例如，从低点60美分，反弹到63需要完整的3美分。如果低点在59.5美分，在其未反弹到63美分前我们认为不是完整3美分法。
Reverse this rule when an option is advancing. Suppose it advances to 50-7/8 and has not had a 3 full-cent reaction for some time; then if it declines to 47, I would consider it a 3 full-cent reaction and an indication that the minor trend was reversing. In this case, if the option only declined to 47½ or even to 47¼, we would not count it a full 3-cent reaction, because full points are based on even figures.
在牛市中反转这条规则。假定有时已经上涨了50－7/8美分却还未回调完整的3美分；那么如果下跌到47美分，我认为它是完整3美分的回调，并且趋势显示次级趋势正在反转中。在本例中，如果行情只跌到47.5或者甚至到47.25，我们不计入完整3美分回调，因为全部的点位是基于准确的数字。
（even figures在这里应该是精确的：（在数量，程度或数目上精确的，恰好的，整的；精确的，不一定正确，有待方家认证，读者请注意这一点。）

Rule 20 –SHARP 2-DAY SIGNAL MOVE2天中的急剧行情信号　
After a prolonged decline an option often has a sharp 2-day rally, making a very wide range in price, then moves in this same range for several days or weeks without getting higher than the top of the 2-day rally or without breaking the previous bottom. This shows support or accumulation. Then when the top of the 2-day rally is crossed, it is an indication that you
should buy a second lot to start a pyramid.
经过长期的下跌后，行情经常出现连续2天的强烈的巨幅反弹，然后是在这2天反弹的顶部与前期底部的区间盘整几天或者数周，这就是一种支撑与密集区的表现。当这2天反弹的顶被突破后，这就预示着你可以进行第二张单的加码。
Apply the same rule after a sharp 2-day decline, which does not change the main trend because the option does not decline into the 3rd day, but later when the bottom of this sharp 2-day decline is broken, it is an indication that the main trend has turned down and you can start to pyramid again.
在2天的剧烈回调中应用同样的规则，当行情第三天未跌破时，主趋势不会改变，但是假如这2天的剧烈回调的底部最后却被击穿，这就预示主趋势将反转，你就要再次进行加码了。

IMPORTANCE OF OPENING AND CLOSING PRICES
重要的开盘与收盘
Rule 21 –SIGNAL TOP DAY　日线顶部信号
The opening and closing prices are very important when an option is very active and reaches extreme high and low.
当行情非常活跃和达到极限的高点与低点时，开盘价与收盘价这时就显得极其重要了。
On the day that extreme high price of a move is reached after a big advance, if option closes near the low of the day or closes below the halfway point of the day’s range or closes below the opening, it indicates that the selling is better than the buying and that the option is getting ready to turn the trend down, at least temporarily. When there is a move of this kind, you should sell out and go short without waiting, placing a stop loss order on the shorts 1¢ above the final day’s high.
在一轮大牛市结束到达极限高点价格的那天，如果当天开盘价接近收盘价，或者收盘价低于当天中价（应该是最高一最低的一半），或者收在开盘价下面，那么预示卖者多于买者，至少行情准备转势了。当这种情况出现时，你就要毫不犹豫卖出并且短线操作，止损定在那天最高点上1美分处。

Rule 22 –SIGNAL BOTTOM DAY 日线上的底部信号
On the day that an option has a sharp break after a prolonged decline, if it closes higher than the opening or above the halfway point or better still if it closes at the extreme high, after making a wide range and going lower than the previous day, it is an indication that the buying is better than the selling and that the trend is getting ready to turn up or that a bigger rally may be expected. Therefore you should cover shorts and buy without waiting for the option to make a higher top than a previous day or without waiting until the trend turns up by crossing a Trend Line top.
在一轮长期下跌市中出现一个剧烈下跌的时候，如果当天收盘价高于开盘价，或者收盘价高于当天中价，或者收在最高价上面，在进行宽幅震荡后价格比前几天收低，那么预示买者多卖者，行情准备转势向上或者将会迎来一轮预期的强烈的反弹。所以你要短线初仓，马上短线买进，等待行情走到比前期顶部更高的位置或者直到穿越趋势线顶部。

Rule 23 –CLOSING NEARER THE TOP OR BOTTOM AND OPENING LOWER OR
HIGHER　收盘价在顶部或底部附近和开盘价在较低点或者较高点

If an option has a big advance and closes near the top or at the exact top, then the next morning opens 1 to 2¢ lower, it is a sign of weakness and an indication that the option is going lower, especially if it fails to cross the high of the previous day.
如果行情在一轮大涨后收在接近或相等的顶部价格处，那么第二天早盘低开1－2美分，
那就证明后市较弱并且将一走低，特别是在未突破前期高点时尤其明显。
When an option is declining and closes near the lowers levels of the day, then next morning opens 1 to 2¢ higher and never breaks the opening price and closes near the highest level of the day, it is a sure sign of good support and indicates that the option is going higher. If the option opens higher after closing weak and holds until 11 o’clock the same day without
breaking the opening, it is a sign of higher prices and you should buy.
当在下跌行情中，收盘接近前期的较低的水平级而第二天早盘高开1－2美分，直到收盘未跌破开盘价并收在当天最高点，那就确认是个强支撑并且预示后市一路走高。如果行情高开后，直到当天上午11点未破开盘价并以弱势收盘，那么后面将会走到一个比较高的价格，你应该买进。

Rule 24 –A NARROW DAY AFTER A SHARPER DECLINE OR A SHARP ADVANCE
急速下跌或者拉升后的短期调整
After an option has been declining for some time and has a sharp break, closing weak or near the low level, if on the following day the range is very narrow and the option goes only slightly lower and closes about the same level, it is an indication that the move has a run out and your stop loss order should be moved down 1¢ above the top of the narrow day.
行情在下跌一段时间并且已经急速下跌后，收盘疲软或收在低级水平附近，如果在下一天行情幅度非常狭窄，同时在较低位行情波动变得极其微小且收盘在同一水平，那就预示市场调整结束，你的止损应该下移到短期顶部上面1美分处。［这个narrow day如何翻译困扰了我两天多的时间，造成脑子短路，查了网上都没有，最后突然来了灵感才翻译成短期。有时就是因为中间的一段话，或者词组翻译不准确，就严重影响了进度。］
After an option has been advancing for some time and had a sharp advance, closing strong or near the high level, if on the following day the range is very narrow, it is an indication that a culmination is near and your stop loss order should be moved up 1¢ under the bottom of the narrow day.
行情在上涨一段时间并且已经急速拉升后，收盘强劲或收在高级水平附近，如果在下一天行情波动幅度非常狭窄，那就预示市场接近顶点，你的止损应该上移到短期底部下面的1美分处。

Rule 25 –CLOSING AT THE SAME LEVELS FOR A SERIES OF DAYS
连续数天收在同一水平
Watch the closing price of an option after a prolonged decline or a prolonged advance.
注意一轮持久上涨或者持久下跌后的收盘价。
If an option closes for a series of days around the same level, it is an indication that it is receiving support or meeting resistance around this level. Then the first day that it closes above or below this series of closings, it will be an indication of a change in trend and you should go with it.
如果行情连续数天收在同一水平周围，那就预示行情在这一级水平的遇到支撑或者强大的阻力。然后在首日收盘在这几天收盘价上面或者下面，那就暗示趋势将改变，你应该随之而上。

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