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Another strength of the charting approach is its ability to handle different time dimensions. Whether the user is trading the intraday tic-by-tic changes for day trading purposes or trend trading the intermediate trend, the same principles apply. A time dimension often overlooked is longer range technical forecasting. The opinion expressed in some quarters that charting is useful only in the short term is simply not true. It has been suggested by some that fundamental analysis should be used for long term forecasting with technical factors limited to short term timing. The fact is that longer range forecasting, using weekly and monthly charts going back several years, has proven to be an extremely useful application of these techniques.
Once the technical principles discussed in this book are thoroughly understood, they will provide the user with tremendous flexibility as to how they can be applied, both from the standpoint of the medium to be analyzed and the time dimension to be studied.