Technical Analysis

Reading the market on the chart.

Technical analysis studies price behaviour (and often volume) to infer probabilities of continuation, reversal or congestion. It rests on observable rules, market context and risk management.

What it is for

Technical analysis interprets what the market does by observing candles, trends, levels, patterns and indicators derived from price. It complements price action (more structural) and cyclic analysis (more time-based).

What it observes	What it measures	When it helps
Trend and structure	HH, HL, LH, LL	Direction and invalidation
Levels	Support, resistance	Decision zones
Momentum	RSI, MACD, oscillators	Strength and divergences
Volatility	ATR, bands, range	Size and stops
Patterns	Chart figures, candles	Setups with context

Core concepts

Term	In Cyclepedia
OHLC candlestick	OHLC Candlestick
Trend	Trend
Support / resistance	Support Resistance
Moving average	Moving average
Timeframe	Timeframe
Volatility	Volatility
Breakout	Breakout
Pullback	Pullback

Tool	Role
Multi-timeframe charts	Context and timing
Moving averages	Trend and dynamic zones
Oscillators (RSI, MACD)	Momentum and divergences
ATR / bands	Volatility and stops
Fibonacci, pivots	Reference levels
Technical screeners	Pattern and setup filters

Representative traders and authors

Figure	Contribution
Charles Dow	Dow Tradition
Ralph Nelson Elliott	Elliott Tradition
Robert Edwards & John Magee	Technical Analysis of Stock Trends
John Murphy	Intermarket Analysis, classic charting
Martin Pring	Momentum, technical cycles, indicators
Gerald Appel	MACD
J. Welles Wilder	RSI, ATR, parabolic SAR
Alexander Elder	Triple screen, trading psychology

Suggested path

Bronze Path — price, trend, support, risk
OHLC Candlestick · Trend — charting basics
Moving average · Volatility — essential indicators
Silver path — setups, plan, metrics
Dow Tradition — historical origin of market movements, averages and confirmation
Elliott Tradition — sources, 5–3 structure, degrees, and counting discipline
Price action — price structure without indicators
Cyclic analysis — time dimension and cycles

Sources

Samuel A. Nelson, The ABC of Stock Speculation, 1903.
William Peter Hamilton, The Stock Market Barometer, 1922.
Robert D. Edwards, John Magee and W. H. C. Bassetti, Technical Analysis of Stock Trends, reference work; first edition 1948.