Learning to draw the DOP will teach you wave analysis...
again, not the kind that you learn in books but the kind that the market itself teaches you.
There are 'triangles everywhere' because there are channels 'everywhere'; a triangle is a channel, a fork is a type of channel, 'head & shoulders' describes a triangle breakout and reentry...it is all connected.
I remember the first time that I really thought about the triangle as more than a pattern; it was while following along to an old Ted Warren seminar.
Ted pointed to the low breakout of a triangle he had drawn (I'm seeing this mentally, it was an audio tape and book) & said that x was a perfect shakeout from a triangle.
My whole world up until that point was trading breakouts from triangles, blinders and all, & now this man was telling me this low breakout was a perfect buy signal!
I was also intrigued by how he drew some of the triangles allowing for these 'shakeouts' (breakouts).
During the seminar he gave me permission to SEE BEYOND THE PATTERN & to use technical analysis to expand sight, not to limit it through definitions.
http://www.amazon.com/Warrens-Advanced-Commodity-Trading-Techniques/dp/B001OXR5OQ/ref=sr_1_4?ie=UTF8&qid=1406227309&sr=8-4&keywords=advanced+commodity+trading+techniques
TRO is right up there with Ted Warren as far as having a great impact on my trading.
When I am in front of my charts I often hear TRO over my shoulder saying "that is interesting...but all you need is a horizontal line".
