Linda Raschke  in a great beneficial Lecture is talking about very important rules and concepts regarding the market ..Linda started her presentation by discussing the 3 basic principles of Technical Analysis .. 

First rule is that every known piece of information is already priced into the market in some way , second is that Technical Analysis is a study for the mass or Market Psychology and the third one is that the market is either trending or consolidating ..

Then Linda commented on Trend and how you define it  .. the relation between Volume and Price Action and the extreme benefits of looking at higher Time Frames  .. also she talked about the importance of Trade Management ..

And more in this really useful Lecture ..