I recently read an interesting book about trading called 'The Zurich Axioms'. In one of the chapters it described the nuanced art of charting prognostication with sagacious commentary;
"He (the Chartist) can't make himself believe the simplest of all possible explanations: the stock market has no patterns. It almost never repeats itself and never does so in a reliably predictable way. Making charts of stock prices is like making charts of ocean froth. You'll see each pattern once, and then it will be gone. Only by blind chance will you ever see it again. If you do see it again it will have no significance, for it predicts nothing."
