The main objective of peer reviewing is to undertake some sort of analysis about certain kinds of mistakes or making appropriate changes the work. Technically speaking, it means providing feedback on the work done by one another. Moreover, the concept of peer reviewing gives emphasis on improvement of the work.
The first part begins with a clear, accurate and self explanatory definition to Technical Analysis. After deploying a relevant quotation from Pring that explains some additional facts about technical analysis, the paper focuses on the basic principles used by technical analysts. The first theory, i.e. the current share price fully reflects all available information, is directly stated, but needs some explanation. It may be considered that technical analysts, based on this premise, believe that it is redundant to do fundamental analysis that all relevant information is already reflected by prices. They also say that news and news events do not significantly influence price. The motif behind the quotation added here is not clear. But, the statement and explanation of the second principle is clear and precise, and the words of David E Bowden enhances the merit of the work. The example given to clarify the different kinds of trends really works out; however, for providing for more specific information the trends need to be mentioned. There are recognized patterns with charts repeat themselves on a consistent basis. Technical analysts believe that prices trend. The third and the final principle is stated and explained in full. The author could have stated some examples of the psychological mindset of the investors who, according to the analysts, repeat the history. The detailed analysis of the first part, thus, makes clear that the work is directed towards the requirement of the questions. This is the first impression that comes to mind while analyzing the work.
A close review of the second question before such an attempt in the answer is helpful in making a right analysis of the second part. Here it is clear that one needs to discuss three different types of charts used in technical analysis. It is equally important to note that the discussion is expected to differentiate between the charts selected, on the basis of specific points like different inputs used, types of decision making that arises from analysis etc. Now, to review the answer provided, it may be remarked that the introduction to the different charts tells about the range and variety of the charts used. The section discusses about the three main types of the charts as required. But it seems that it has completely ignored the second part of the question as it fails to identify the differences between the charts. No comparative analysis is also undertaken. The paper needs to include such an analysis that distinguishes between the three types of charts. The candlestick chart is introduced and explained well. However, the another doesn't elaborate the characteristic features of the chart that separates it from other types of charts. Such a comparative analysis would not only explain the chart better, but also meet the requirements of the question as well. This particular observation is applicable to the rest of the charts too. The charts are discussed in isolation and no