The classic price patterns you see
from old school technical analysis
still work today.
Even with all the fancy computer programs and advanced indicators, if you look at the weekly and monthly charts, you’ll find standard reliable price patterns. Why have the behavior of the markets not changed with all this technology?
Because we are dealing with the human spirit and emotions. The markets are largely driven by fear and greed. Fear of loss and greed for more gain.
These human emotions have remained, essentially, the same throughout recorded history as we know it, and they effect market prices the same now as they did fifty or eighty years ago.
These same price swings, driven by fear and greed, have been documented in today’s real world stock markets, street prices for common goods and in all manner of markets where items are traded for currency throughout history.
Basic Technical Analysis Works.
Technical Analysis is like watching a golf game in slow motion, but at the same time, the futures markets are a fast-moving merry-go-round, and you have to get up to speed before jumping on, or you won’t be golfing for long!
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