“A chart is innocent until proven guilty.”
–Romeo Fayette (2014.06.18)
Just a reminder to myself regarding technical analysis: wait for confirmation before trading.
Chart patterns and indicators may portend a move, but I must await the actual breakout or breakdown before building or closing a full position. Without confirmation, there is no conviction — and that goes doubly for a reversal within a larger trend (e.g. bull or bear market).
My multifactor, multidisciplined strategy tries to control for such false signals, but I can always strive to perfect my technical tools.