Dow theory is reliable as it was widely studied and accepted since 1800’s. It helps to figure out the buyers zone and sellers zone using price and volume. Using tops and bottoms, trends can be established.
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Hi,
For Dow Theory daily line charts are used and the minimum look up period is 2 years. The duration of trend forecasting for Dow Theory is 2 to 3 months. Trend forecasting is nothing but to predict the future direction of price action, which can be done with the analysis of existing data to try to spot the upcoming trend.