Technical Analysis Course - Philosophy

A study of market action is an investigation of people inter-reacting with the market. Since we cannot insert people into test-tubes ( at least not yet ) to research their psychological make-up, we can only use proxies – - prices , which provide a means to measure the results of people’s reactions. Whatever one believes is being measured, the entire approach is being based on the assumption that certain repetitive patterns of price and action will re-occur, either before, during or after a significant price movement.

To my mind, U shud have charts which clearly tell U the tale of the market and which wud be the most helpful to U in U’re forecasting ability. U’re chart is meant to be a road-map on the path to fortune. If it is too detailed, or pretends to do this, U mite as well frame it and hang it on the wall.

Most charting systems contain the basic selling/buying pressure studies.

---

This is your new blog post. Click here and start typing, or drag in elements from the top bar.