Quote from roniy1985:
I'm a beginner with everything that has to do with technical analysis...
Technical analysis was a naive method for trading the markets people used in the 1980s and 1990s. They lost so much money that TA can be safely declared one of the most effective wealth transfer mechanisms ever developed and put in use.
Let me ask you a question: would you try to solve a partial differential equation with split boundary conditions by hand? This is what you are doing when looking at charts trying to find patterns to profit from. Do you think hedge funds and professionals use TA? The answer is NO. They use algorithms that process price action and determine probabilities.
Still, if you insist on learning a thing of the past that I ensure you won't make any money for you in its simple form taught in books, you can find anything you want along with statistics in Bulkowski's website. If you want to buy a book buy his:
At least one book that was mentioned here was written in the 1940s. Come on you people! Most of the charts in that book are about companies that do not exist today. It is an authoritative, dogmatic piece with no explanations or justifications and you are supposed to believe the authors, no questions asked. Bulkowski is much better and down to earth. He has done a lot of work and he gives probabilities.
Here is an article in the price action lab on TA and on some of its recent failures: