Editing Technical analysis (section)

==History==
The principles of technical analysis are derived from hundreds of years of [[financial market]] data.<ref>Joseph de la Vega, Confusión de Confusiones, 1688</ref> Some aspects of technical analysis began to appear in Amsterdam-based merchant [[Joseph de la Vega]]'s accounts of the Dutch financial markets in the 17th century. In Asia, technical analysis is said to be a method developed by [[Homma Munehisa]] during the early 18th century which evolved into the use of [[Candlestick chart|candlestick techniques]], and is today a technical analysis charting tool.<ref>{{cite book | first = Steve | last = Nison | title = Japanese Candlestick Charting Techniques | year = 1991 | pages = 15–18 | publisher = New York Institute of Finance | isbn = 978-0-13-931650-0}}</ref><ref>Nison, Steve (1994). Beyond Candlesticks: New Japanese Charting Techniques Revealed, John Wiley and Sons, p. 14. {{ISBN|0-471-00720-X}}</ref>

Journalist [[Charles Dow]] (1851-1902) compiled and closely analyzed American stock market data, and published some of his conclusions in editorials for [[The Wall Street Journal]]. He believed patterns and [[business cycle]]s could possibly be found in this data, a concept later known as "[[Dow theory]]". However, Dow himself never advocated using his ideas as a stock trading strategy.

In the 1920s and 1930s, Richard W. Schabacker published several books which continued the work of [[Charles Dow]] and [[William Peter Hamilton]] in their books ''Stock Market Theory and Practice'' and ''Technical Market Analysis''. In 1948, Robert D. Edwards and John Magee published ''Technical Analysis of Stock Trends'' which is widely considered to be one of the seminal works of the discipline.  It is exclusively concerned with trend analysis and chart patterns and remains in use to the present. Early technical analysis was almost exclusively the analysis of charts because the processing power of computers was not available for the modern degree of statistical analysis. Charles Dow reportedly originated a form of [[point and figure chart]] analysis.  With the emergence of behavioral finance as a separate discipline in economics, Paul V. Azzopardi combined technical analysis with behavioral finance and coined the term "Behavioral Technical Analysis".<ref>Paul V. Azzopardi, "Behavioral Technical Analysis", ibid</ref>

Other pioneers of analysis techniques include [[Ralph Nelson Elliott]], [[William Delbert Gann]], and [[Richard Wyckoff]] who developed their respective techniques in the early 20th century.{{cn|date=September 2023}}