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Technical Analysis Plain and Simple: Charting the Markets in Your Language, Third Edition by Michael N. Kahn - CMT

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8. See the Forest and the Trees

There are so many tools available to the technician that it is easy to overdo it. Vast quantities of data may be unnecessary to discern simple patterns. The “noise” associated with daily data can confuse long-term analysis, and too many indicators can obscure the trend they are attempting to measure. Keeping it simple allows the market’s condition to jump right at you. Too much analysis may assign meaning where there is none.

Less Is More

Sometimes the data presented on a chart can get in the way of the analysis. The wiggles seen even on long-term charts obscure the trends the analyst is trying to find, so a way is needed to cut through the clutter. Computerized filtered rocket science formulas ...

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