Father of Technical Analysis

Dow theory is used as the basis for all technical analysis. Which help us to know the movement of direction of stock with the help of price and volume which can be accessed by anyone who is working in the market. But with the help of dow theory, one can not forecast the price or find the entry or exit level. when the market makes continuous higher tops and higher bottoms one should buy above the previous high. in a bearish trend i.e when the market makes continuous lower lows and lower tops one should go short below the previous low. the trend will be reliable for 2-3 months.