Three Pillars of Technical Analysis

1. The price takes everything into account.   2. Price movements are subject to tendencies (trends). 
3. History repeats itself.

1. Any factor that can affect the price: psychological, economic or political, has already been taken into account by the market and included in it. Therefore, to make a forecast, you need to concentrate on the price chart.

3. Based on the analysis of historical data, it is possible to predict the dynamics of price changes, since the behavior patterns of market players can be repeated.

2. Individual price changes may be random, but their combination over a period of time can create a trend—the direction in which the market will move for some time. If down, then the trend is downward, if up, then the trend is up.