Chapter 1. Introduction to Technical Analysis

Technical analysis—these words may conjure up many different mental images. Perhaps you think of the stereotypical technical analyst, alone in a windowless office, slouched over stacks of hand-drawn charts of stock prices. Maybe you think of the sophisticated multicolored computerized chart of your favorite stock you recently saw. Possibly you think of a proprietary trader in front of multiple computer screens displaying graphics of each trade in a series of futures markets. Perhaps you begin dreaming about all the money you could make if you knew the secrets to predicting stock prices. Or, maybe you remember sitting in a finance class and hearing your professor say that technical analysis “is a waste ...

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