You’ve probably asked yourself about the importance of Technical analysis and Volume analysis. There are people who swear by Technical analysis – they’ll take the trade only if a certain pattern is playing out. And there are others who never look at charts or rarely look at them. So who’s correct ?
The answer lies in between. Any trader that understands the importance of Technical analysis, but knows its limitations at the same time, is best poised to take full advantage of these tools. One thing should be clear – these analyses only works when there is an absence of “fundamental events”. A fundamental event could be anything like Earnings reports, Lawsuits, Merger and acquisition talks, Global geopolitical crises, and any number of such events. No amount of technical analysis will work during these times. But these fundamental events occur during a minority part of the year. There are 4 Earnings reports for sure, but the other events are quite rare. So Technical Analysis will work during 60% to 70% of the time. The key is to know when to rely on Technical analysis, and when not to.
Technical analysis is a self-fulfilling prophecy – if enough number of traders are looking at the same thing, and decide to act, more traders will jump into the trade, and when more traders jump into the fray, even more will jump in. This is what makes stocks move big-time even when there is an absence of any kind of good or bad news around it.
Volume analysis, on the other hand, is very under-rated studies in the markets. Detailed Volume analysis can provide valuable clues about what the “Smart Money” is doing. Think about it – Volume is the only indicator that Smart Money cannot hide. They can hide everything else, but they can’t hide volume (even though they try their utmost to do it.).
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If you think you have a 50-50 shot on any trade, good Technical analysis and Volume analysis can take your edge in every trade to 70 to 75%. Pick up this bundle and give yourself this edge in your trading.
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