11. Putting It All Together

This book began with the statement, “Market timing doesn’t work.” Hopefully, the preceding pages have refuted that statement and indicated that, with the proper tools properly applied, market timing does work.

It is a contention of technical analysis that patterns and laws are fractal in nature. That is, a pattern that applies to the longer term will be equally applicable to the very short term, even on an intraday basis. That contention may give rise to differing opinions, but what does seem apparent is the reliability of these patterns increases in accordance with the period of time being analyzed. In other words, the probabilities of wrong timing is likely greater on a short-term basis when brief periods of market ...

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