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None of the methods I have explained are unique, nor did I invent any of them. The origin of technical analysis goes back many years and even includes analyzing how the stars, the sun and the moon affect the stock market. I chose to stick with more easily discerned technical patterns.
I tried virtually all of the systems out there before I came back full circle to the simplest methodologies that seemed to work just as well or even better than the more complicated systems that I tried.
A notable example of a well-known but extremely complicated trading system is the Elliott wave principle. I studied the Elliott wave principle and attempted to use it. However, I found out that even the experts had two or three variations on every wave. That level of confusion made the Elliott wave theory unworkable for me as a trading indicator.
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