Technical Analysis a la Edwards and Magee Message Board

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Non-Tech : Technical Analysis a la Edwards and Magee

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To: marketbrief.com who wrote (1)	3/19/1998 1:19:00 PM
From: Jim Roof	Read Replies (1) of 40

Well put. Those are my sentiments exactly. I have read Nisons' second book and it was very good reading as well. Candlesticks to me seem to be a tool that looks into even smaller time frames than typical western analysis. The psychology is the same but the units of time measurement are much smaller. I am not a real believer in the Elliott (sp?) Wave Theory per se but there is a lot of truth in the observation that everything is cyclical and that these cycles run on different 'frequencies'. Fundamentals may pick a winner on a multi-year basis. Good chart analysis can pick a winner on a weekly or monthly basis. Candlesticks work on a daily basis. Jim

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