Technical Analysis: Chart patterns vs. indicators, which work better?

March 21, 2016 at 11:59 am

There are many different tools in technical analysis designed for different purposes. Think of them as your toolbox. In real life you need different tools to perform different tasks and therefore you need a set of tools to complete a job. In pretty much the same way you need a set of technical analysis tools to develop a consistently profitable trading system.

It’s possible to build a house using only an ax but a much better house can be built using a variety of tools. The best results are achieved by using different technical analysis tools for confirmations.

For example, I find trade candidates based on the price action and use indicators and oscillators for trade confirmation.