| | | | | | | Why Warren Buffett Is Wrong About Stock Charts |  |  | | Stock charts are popular among traders. But, one of the greatest investors of all time, Warren Buffett, has expressed skepticism that charts can be used with any degree of reliability. It is not easy to say, but in this case, Warren Buffett is wrong.
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This week, in our latest article, we look at what Buffett said and how economists at the Massachusetts Institute of Technology devised a test that disproved Buffett. With that out of the way, we then dig into the basics of chart reading and explain how to look at a chart with the goal of developing a trading strategy.
We detail:
• How charts have been used in the past and how this approach can be useful in the current markets, more than 80 years after chart analysis was first explained.
• What type of chart traders should consider using to develop a big picture of the direction of the trend. And why this chart could be the simplest, and most effective, tool in the chartist’s tool box.
• A description of how to spot patterns on charts and how to be certain that the chart pattern you identify is correctly defined and tradable.
• A look at how this strategy could be applied to any stock or ETF or any other security.
• A rule to develop price projections based on the market action.
For all of this and more, you can follow this link.
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