Regardless of which technical tools or method you may choose to sink your teeth into, my best advice would be to stay disciplined and put pride away. Pride and greed will put a very quick and painful end to any investment plan. I realize that this is possibly one of the hardest lessons an investor will have to engrain into any investment plan. However, discipline and technical analysis will not only offer you the opportunity to succeed, it can actually provide you with a potential lifeline in successful investing.
Source: http://www.investorguide.com/igu-article-834-technical-analysis-technical-analysis-a-potential-lifeline.html
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