This Element is an excerpt from Technical Analysis Plain and Simple: Charting the Markets in Your Language (9780137042012) by Michael N. Kahn, CMT. Available in print and digital formats.
How to ""let the market talk"" and bring flexibility to technical analysis, instead of squeezing complex, organic markets into artificial textbook definitions.
Market analysis is just not a precise endeavor. The market is a living being: It does not react to the world exactly the same way twice. Flexibility is key: If you stick too closely to textbook definitions, you may be right, but you'll have a lot of losing trades.