Tag Archives: chart patterns

Another Chart Pattern Failure Worth Mentioning and Some Typical Arguments of Technical Analysts

Posted on February 24, 2012 by Michael Harris

It took just one week to invalidate a typical reversal rounding top formed in SLV, the Silver ETF. This marks another major failure of technical analysis, one of the many witnessed in the last couple of years. Should traders stop using this … Continue reading →

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Trading Based on Classical Chart Patterns is Modern Alchemy

Posted on December 15, 2011 by Michael Harris

Medieval alchemy aimed, amongst other things, at the transmutation of base metals into gold. Trading based on classical chart patterns, like triangles, head and shoulders, pennants, etc. is a form of modern alchemy because it aims at the transformation of simple geometrical shapes found on price charts … Continue reading →

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Dow 4,000? What Technical Analysis Says or Doesn’t Say About Such Possibility

Posted on November 26, 2011 by Michael Harris

Recently I read an analysis about the possibility of Dow dropping to 4,000 or even as low as 1,000. The claim was that technical analysis of long-term charts supports such a possibility. I argue here that it is not pure technical analysis that … Continue reading →

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The Four TA Patterns on the GLD Chart that Failed

Posted on November 8, 2011 by Michael Harris

This post could have the title “Beware of Greeks Baring Gifts No 2″ as a sequel to my original post on October 1, 2011 where I warned about the pending failure of the obvious pennant formation in GLD, a chart pattern … Continue reading →

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