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当22日均线下跌时，2日均线力量指数上涨到0以上，它表明下跌时多头失败，是做空的时机。如果你是做短线，在力量指数变负数时快速兑现利润。如果你做长线，利用下面的通道边缘作为利润目标。
When the two…day EMA of Force Index spikes up or down； exceeding its normal peaks or lows by several times； it identifies an exhaustion move … a signal to take profits on existing positions。
当2日均线力量指数指针向上或向下，多次超过过去的顶或底，它确认了波动的耗竭——是兑现利润的信号。
When the trend is up and the two…day EMA of Force Index traces a sharp upward spike； eight or more times above its normal height for the past two months； it marks a buying panic。 The bulls are afraid of missing the train and bears feel trapped and cover shorts at any cost。 Such spikes tend to occur during end…stages of bull moves。 They tell you it is a good time to take profits on long positions。 Prices often rally to retest the spike day’s high。 By then the spirit is gone from the rally and other indicators start developing bearish divergences； warning of a trend reversal。
当趋势上涨，2日均线力量指数跟踪到上涨的指针，在过去2个月中，有8次或以上的次数在正常高度以上，这表明了买入的疯狂。多头害怕错过了火车，空头害怕被陷害，不管任何成本地回补空头仓位。这样的指针在多头的末期会出现。他们告诉你现在是兑现多头仓位利润的时候。价格经常会再次测试指针那天的高度。当上涨不再出现，其它指标开始出现看跌背离，这是警告趋势要反转了。
When the two…day EMA of Force Index traces a sharp downward spike during a downtrend； four or more times deeper than normal for the past two months； it marks an hysterical stage of the downmove。 It identifies a selling panic among the bulls； who are dumping their holdings at any price to get out。 Such spikes tend to occur at the end…stages of bear moves。 They tell you that it’s a good time to take profits on short positions。 Prices sometimes retest the spike day’s low； but by then most indicators are developing bullish divergences and an upside reversal is ing。
当2日均线力量指数跟踪到下跌趋势下跌的指针，过去2个月有4次或更多的次数比正常状态还低，它表明下跌的疯狂。它确认了多头卖出疯狂，他们不计成本地卖出自己的仓位。这样的指针发生在下跌波动的末期。它们告诉你此时最好兑现空头仓位的利润。价格有时会再次测试指针那天的低点，但是当大多数指标形成看涨背离时，反转快来了。
Spikes are somewhat similar to the kangaroo tails we discussed earlier （see “The Reality of the Chart” on page xx）。 The difference between them is that tails are purely price…based； while Force Index reflects volume as well as prices。 Tails and spikes identify panics among the weakest players。 Once they get flushed out； the trend is ready to reverse。
指针和我们以前说的袋鼠尾巴有点像（请看xx面“图的事实”）。它们之间的区别是，袋鼠尾巴单纯地建立在价格的基础上，力量指数反映了成交量和价格。尾巴和指针确认了市场中弱势一方。一旦他们出场了，趋势就要准备反转。
A Reversal Is ing Trend reversals do not have to e as a surprise； divergences between Force Index and price usually precede them。 If the market is trying to rally； but the peaks in Force Index are being lower； it is a sign of weakness among the bulls。 If a stock or a future is trying to decline； but the bottoms in Force Index are being more shallow； it is a sign of weakness among the bears。
反转来了 趋势的反转不一定就是突如其来的，力量指数和价格的背离通常会走在反转前面。如果市场想涨，但是力量指数的顶变得更低，那是多头变弱的迹象。如果一只股票或期货想跌，但是力量指数的底变的更浅，那是空头变弱的迹象。
Figure 5。12 Force Index … 13…Day EMA
图5。12 力量指数——13日均线
A longer…term Force Index； smoothed with a 13…day EMA； identifies longer… term shifts of power between bulls and bears。 When it is below zero； bears are in control； and when it is above that line； the bulls are in charge。 Divergences between the peaks of this indicator and price peaks precede market tops； whereas divergences between their lows precede important bottoms。
一个长期力量指数，用13日均线来平滑，能确认长期的多头和空头的力量。当它在0以下时，空头主导；当它在0以上时，多头主导。指标顶部和价格顶部的背离走在市场顶部之前，同理底部的背离走在重要的底之前。
In area A； Force Index traces a lower peak during the final price peak。 It reveals that bulls are weak and a top is likely。 A few days later； the EMA ticks down； confirming that a new downtrend has begun。 A mirror image of this pattern occurs in area B； where we see a lower closing price； a higher bottom of Force Index； and a few days later an uptick of the EMA； auguring an important rally。 Notice also the double bottom in that area … a kangaroo tail； followed by a retest of the lows。 This is one of many examples of patterns and indicators reinforcing each other。 In area C Force Index traces a bearish divergence and warns you that the bull move is over。 A few days later the EMA ticks down； and it’s all downhill from there。 The market keeps sending you messages … all you have to do is listen。
在区域A，力量指数跟踪到了次级高点，此时价格达到最后的顶峰。它表明多头变弱，可能到顶了。几天后，均线下跌，确认新趋势开始了。这个模式在区域B同样发生了，我们看见了更低的收盘价，力量指数底部抬高。还请注意那里的双底——一只袋鼠尾巴，后面是对底部的再次测试。很多模式和指标互相验证，这只是其中一个例子。在区域C，力量指数跟踪到了看跌背离，警告你上涨已经结束了。几天后均线下跌了，以后就是一直下跌的。市场总是在给你信号——你要做的就是聆听。
At the right edge of the chart the market is declining； confirmed by the falling EMA。 Force Index is starting to trace a bullish divergence； it is time to tighten stops on short positions。
在图的右边，市场在下跌，下跌的均线确认了这点。力量指数开始跟踪到看跌背离，此时要做好空头仓位的止损。
A divergence between an EMA of Force Index and price shows that the trend is ready to reverse。 Divergences between the patterns of peaks or bottoms of Force Index and prices show that the trend is being weaker。 The power of this message depends on the length of the EMA with which we smooth our Force Index。 If we use a very short EMA of Force Index； such as two days； its divergences help pinpoint the ends of short… term trends lasting a week or so。 If we use a 13…day or longer EMA of Force Index； we can identify the ends of longer…term moves that last months。
力量指数均线和价格之间的背离表明趋势要反转了。力量指数的顶或底与价格的背离表明这个趋势变弱了。这个信息的可信度和我们使用的均线时间长度有关系。如果我们使用很多短的均线，比如2天，能帮助指出1周左右的趋势结束。如果使用13天，或更长时间，我们可以确认1个月的趋势结束。
If the trend is up and you are long； take profits when the two…day EMA of Force Index traces a bearish divergence … a lower peak in the indicator during a higher price in the market。 If you are short； take profits when the two…day EMA of Force Index traces a bullish divergence … a higher bottom in the indicator during a lower price in the market。 Take your profits and monitor the market from the sidelines。 It is cheaper to exit and reenter than sit through a countertrend move。
如果趋势是上涨的，你在做多，当2日均线力量指数跟踪到看跌背离时兑现利润——市场的价格更高，指标的底更低。如果你在做空，当2日均线力量指数跟踪到看涨背离时兑现利润——市场的价格变的更低，指标的底部抬高。兑现利润，观望市场。出场再进场比反转时还不走的成本要低。
It is essential to bine Force Index with trend…following indicators。 If you use this oscill