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This book Chart Patterns Analysis: How a super trader made $42 million with $11,000 within 23 monthstrading stocks is a must-read by all traders. Fred Tam is one of the industry’s foremost technical analysts. I have known Fred for 20 years and have taught classes on technical analysis together. Although my brand of technical analysis is different, the same patterns show up time and time again. Like anything worthwhile it takes time to learn but this would be time well spent.
Mr. Lim Tat Seng and Mr. KH Tan are also friends of mine. They are Senior Lecturers at Fred Tam’s technical analysis school. The three experts combined make a very compelling reason to learn this method of analysis.
When it comes down to price change, after all the fundamental analysis has been read, digested and evaluated, it is the irrefutable law of supply and demand that causes all price change. If there are more buyers than sellers willing to sell then price must rise. If there are more sellers than buyers willing to buy then price must decline and if buying and selling are equal, price must remain the same. There is nothing else other than supply and demand and demand and supply. This is exactly what technical analysis endeavors to do – take you directly to the answer.
Tom Dorsey Founder of Dorsey Wright & Associates, Richmond, VA, USA