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The Boxcar Effect
Hi All,
Can anyone please provide an explanation on the Boxcar Effect as it applies to TA? I understand it has to do with price behaviour as a trend or maybe averaging period is finishing.
I came across the term in a review of Murphy's "Technical Analysis of the Financial Markets" - the tome was criticised for NOT describing this "important" phenomenon.
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What does it mean? How does it work? Is it a useful tool?
Googling has turned up nothing for me so far any good references?
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