Closing Thoughts
Technical analysis is the art of science. There’s a strange statement. Like psychology or sociology, it is deeply rooted in human emotions and behavior, can be taught in an academic environment, and yet cannot precisely predict what humans will do in any given situation. All of these disciplines can assess the probabilities of a response to any situation, but none can be 100% accurate like the “hard sciences” of chemistry or physics.
Hard science cannot be used to predict the markets just like the square peg cannot fit into a round hole analogy. Non-linear events in the markets can only be analyzed using probabilities, and technical analysis excels in just such situations. It uses past reactions to assess the probability of ...
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