To a technician, however, the "value" of a stock is whatever the buyer is willing to pay for it and the seller is willing to accept. By introducing fundamental notions of "value", you are enabling yourself to make the same errors that beginners have always made, e.g., averaging down, hanging on to losers, failing to apply stops, etc. Again, what you proposed in your first post is not a problem of TA but of the practitioner. LC
The real problem with TA is a slew of halfwits and conmen who insist that they can substitute voodoo for solid mathematical reasoning. 'Twas ever thus. The very nature of TA makes it a magnet for sophists.
yes. the nature of TA attracts those who want a quick fix--"hey, all i need to do is look at a chart"---what can be easier?? well, the guys at wildly succesful from a marketing standpoint--wizetrade--reduced looking at a chart to red light, green light so i guess anything is possible! LOL ! soon, if capital lasts, they will understand. regards, surf