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A Beginner's Guide to Charting Financial Markets: A practical introduction to technical analysis for investors by Michael Kahn

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6. Technical Analysis In Action

This section covers the next level in understanding how to use charts – yet still keeps it to its simplest forms. Understanding the concepts in a technical analysis classroom is great, but when we can find it in the real world and use that to help make our decisions to buy, sell or hold, then we really have a powerful tool at our disposal.

What is going on around you?

Charts help us understand the psychology of the market, from fear to greed and from apathy to obsession. They also show us when the herd is stampeding and we should join along. They also show us when that herd is going to run right off a cliff and we should get out of the way.

Technical analysis can help gauge how happy people are in the market. ...

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