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Understanding historical data is essential for analysis from "summary" of Japanese Candlestick Charting Techniques by Steve Nison
To truly grasp the movements and patterns of financial markets, one must delve into the historical data that underpins them. This data provides a wealth of information that is crucial for conducting accurate and insightful analysis. By examining past trends and behaviors, analysts can gain a deeper understanding of how markets have behaved in the past and use this knowledge to make informed predictions about future movements. Historical data allows analysts to identify patterns and trends that may not be immediately apparent from looking at current market conditions alone. By studying how markets have reacted to certain events or conditions in the past, analysts can gain valuable insights into how they are likely to respond in similar situations in the future. This historical context provides a valuable frame of reference that can help analysts m...
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