Chasing a market up or down can also offer the potential for greater risk and less return (see below).
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Which Moving average to use Any time span can be considered from minutes to years.
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The three trend lines that can be drawn from the initial point of the trend through each of the retracement extremes are known as Fan Lines.
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That is why technical analysis is not an exact science.
A line that connects a series of highs or lows in a trend.
One of the main reasons I believe technical analysis works is because of the human element.