Rather than reinventing the wheel through production of a YTC Beginners Guide to Technical Analysis, I’m going to use this article to refer you to existing internet resources that already meet this need in a comprehensive, accurate and easy to read style. This will allow me to focus on more advanced topics of "the application…
Projection refers to the distance with which a price extension projects past the previous swing high (in an uptrend) or swing low (in a downtrend).
One area where many traders struggle is with counter-trend entries; such as reported through this email comment: "My numbers show a profit when trading with the trend but that just gets destroyed by the trades which are against the trend." My first suggestion is usually short and straight to the point: STOP trading counter-trend! Simple,…
"The more you have, the more you are occupied. The less you have, the more free you are." … Mother Teresa Anything on your charts that is not required for your strategy, or does not act to simplify your analysis, should be removed. It acts as a distraction and increases (even if just slightly) the…
