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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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7. When The Real World Does Not Follow The Script

Sometimes things do not work as planned.

Sometimes we need to use a bit of fudging or, to put it a bit more professionally, make some judgement calls. It is rare that we see textbook set-ups and if we wait for everything to fall into place we will miss opportunities. Call that analysis paralysis.

Technician’s license

The debate continues on whether technical analysis is an art or a science. Those of the latter belief work with equations, trading systems and models. Those of the former belief use trendlines, traditional technical patterns and an experienced eye. Just like writers who use journalistic license to bend the rules of grammar and facts, market technicians selectively ignore various ...

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