Markets are driven by fear and greed—human emotions that have not changed in centuries. The chart patterns Murphy describes—Head and Shoulders, Triangles, Wedges—are simply visual representations of human herd behavior. As long as humans (or algorithms programmed by humans) are trading, these patterns will continue to appear.
Murphy covers the complete foundation, including: Markets are driven by fear and greed—human emotions
John J. Murphy does not promise you a $100,000/month strategy. He offers you something rarer: A dependable framework. Markets are driven by fear and greed—human emotions
The Trader’s Bible: Why John J. Murphy’s “Technical Analysis of the Financial Markets” Still Rules the Charts Markets are driven by fear and greed—human emotions