Analysis of trend charts is one of the most important stages in the overall picture of technical analysis. This study of patterns, the recognition of classical figures and the formulation of index for the further movement of prices. Before accepting a new value, the price generates chart patterns, which may indicate a continuation of trend, a turn or a breakthrough. There are also such people, who do not recognize chart patterns, being a supporter of fundamental analysis.
"The models on your charts and quotes screens are traces left by bulls and bears. Moreover, the analyst is the tracker: he follows the trail, guided by subtle signs, only those who know what he is searching for can recognize. Graphic models help to predict the future of a trend: its endurance or reversal", -. A. Elder "How to play and win on the stock exchange".