Email of the day (2)
Comment of the Day

May 05 2011

Commentary by David Fuller

Email of the day (2)

On Eoin's presentation to the ATAA earlier this week, from a contact in Sydney:
"He was great. I thoroughly enjoyed his talk. (Took a lot of notes) He is the best presenter we have had all year!!!

"I like the fact that you look for "beautiful" charts. I come from an artistic family - All my cousins, etc paint - I was left behind the door for that - but I view my form of TA as more an art than a science - it is all about the pictures and trends for me."

David Fuller's view You are SO right about the visual (also behavioural) art of TA. The textbook types just don't get it, which is why I have never and will never write a book on the subject, although Eoin is writing one. To the extent that TA is a science, it is a social science depicting behavioural patterns, as you so clearly recognise.

For newer subscribers and those who have not yet attended TCS, Eoin's comment on "beautiful" charts, is a reference to the highly consistent, rhythmic uptrends created by a very pronounced supply/demand imbalance. These produce the bigger and therefore better trends, and are the least difficult to assess because an eventual loss of consistency, caused by a change in the supply/demand balance, will look conspicuously different. Silver (weekly & daily) is a great example. Parabolic uptrends are splendid opportunities while they last but always end badly.

As word of Eoin's recent presentations at the Technical Analysis Society of Singapore (TASS) and the Australian Technical Analysts Association (ATAA) spreads - these are two of the liveliest, in my experience - I am sure he will receive more invitations to address other TA societies.

Having been there and done that, and thoroughly enjoyed it, David will mind the shop, via Comment of the Day and Audio.

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