I do not necessarily rely on Technical Analysis for entry and exit signals, believing that there is rarely a critical point at which one must act. I prefer not to use such signals as a basis for mechanical trading even although doing so limits conflicting trader bias.
Rather the assessment of historical and current market conditions it provides is used as a resource to answer pertinent questions posed, questions such as:
Will I be able to sell tomorrow, or at sometime in the near future, at a better price than I can today? One should delay selling in an uptrending price pattern.
How long should I delay selling if the stock is in an uptrend? Multiple moving averages advocated by Daryl Guppy is one of the best tools, but I also like examining for loss of momentum the parabolic indicator curves of stocks being monitored.
Will I be able to buy this oversold stock more cheaply and safely at a later date? Once again clear evidence of trend reversal should be looked for before accumulating stock.
With this approach the decision making process is a complex intellectual process in which as much information as possible is considered.