Chart Analysis - aka Technical Analysis
Chart analysis uses charts and graphs of a security's historical prices or levels to forecast its future trends. A chartist looks for well-known patterns such as head-and-shoulders or support and resistance levels in securities so as to trade them more profitably. Chart analysis is helpful in all markets where financial instruments are traded - equities, currencies, commodities and bonds. Technical analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. Likewise, technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.