In the last couple of articles we have looked at price confirmation tools. This week, we are going to look at some of the more alternative concepts in technical analysis. There are some very strange and bizarre concepts out there – some that defy logic and are hard to digest. If they work for the user though, who am I to argue against them?!
To call the concepts that I am going to look at in this week article ‘alternative’ is a little unfair. I only class them as alternative, as they aren’t in my every day world of technical analysis and trading. However, for some, these concepts are the life and soul of their trading and they would consider them to be ‘mainstream’. These alternative concepts can become a lifetime’s study. I would say, though, that they are more suitable for advanced or experienced users of technical analysis. A thorough understanding of technical analysis generally, will enable you to more easily understand these alternative concepts and deploy them in your analysis and trading. [Read more…]