Trading-terms Glossary

Against all risks.

A rare candlestick pattern in which an upside gap doji star (where the shadows do not touch) is followed by a downside gap black candlestick where the shadows also do not touch; considered a major top reversal signal.

Elliott wave terminology for a three-wave countertrend price movement. Wave A is the first price wave against the trend of the market. Wave B is a corrective wave to Wave A. Wave C is the final price move to complete the countertrend price move. Elliott wave followers study A and C waves for price ratios based on numbers from the Fibonacci series.

The agreement written on a draft and signed by the drawee - who becomes the acceptor - to pay the specified amount on the due date. The term is also applied to the accepted time draft itself. See also �Bill of exchange�.

A documentary credit which requires, amongst the documents stipulated, provision of a term bill of exchange. The bill is then generally accepted by the bank on which it is drawn or discounted. The practical result is that the beneficiary is paid promptly at a discount.

The person who accepts a bill of exchange drawn on them. Until they accept, they are called the drawee. By accepting the bill the acceptor undertakes to pay the person presenting the bill the face value of that bill. On payment the acceptor retires the bill. Where the acceptor is the initial provider of the credit, by arrangement, on maturity of the bill, they require the borrower to place their funds on an amount equivalent to the face value of the bill.

Refers to actual physical commodities, as distinguished from futures.

Smoothing and/or forecasting prices with continuously updated weighting of past prices.

This is a guarantee that advance payments will be returned if the party having received such payments does not perform its part of the contract.

Each day's number of declining issues is subtracted from the number of advancing issues. The net difference is added to a running sum if the difference is positive or subtracted from the running sum if the difference is negative.