Introduction to the Art and Science of Technical Analysis
attention to the angles of ascent and descent in the markets. A novice may not be
able to clearly identify chart patterns, trendlines, or angular patterns at the very
beginning. But with enough practice, the pattern‐recognition abilities will gradu-
ally improve, becoming more obvious as the skill in reading charts improves. As a
consequence, the amount of subjectivity associated with identifying patterns will
gradually diminish.
Refer to Figure 1.26. Here is the same chart of the USDCAD again. But this
time, we see the underlying beauty and symmetry of price, tempered and forged
by the expectation, psychology, biases, and emotions of all market participants. To
a trained eye, a simple chart of price action is as beautiful as any work of art. For
technical analysis is, in itself, an art.fIgure 1.24 Chart Pattern Analysis on the 4‐Hourly USDCAD Bar Chart.
Source: MetaTrader 4fIgure 1.25 Angular Symmetries on the 4‐Hourly USDCAD Bar Chart.
Source: MetaTrader 4