Okay here is a simple question. TA does not really work. Okay. But do price patterns in charts become sort of a self fulfilling prophecy?
if you have the supp/res drawn out in sevral correlating markets,rather than just a bunch of bars,bars with trendlines,add in a few other markers like market profile,fibs,chart patterns, and you look at several correlating markets and go back to maestros inertia comment, you can watch the action as it nears those points and see if it loses steam or stays strong,in that sense TA is very telling
So did you apply the splines to price as well as indicator values? The trend lines bend and are very powerful when the two are matched, especially when there is a past history of price connecting with the spline.
Yes, highs/lows especially on larger scale are so obviously noticed by the market it can't be more objective.
So then,i hope you have this simple formula in your quiver? Pt - Pt-n Now we need to add this another little creatuuuuuuure.... I=M(r^2+h^2) aaaaaand... Voila!
Yes they do. That is why when I was asked whetehre TA works or not I said "YES". Except the fact that TA's efficiency has nothing to do with TA itself.
What about efficiency of TA as a tool to measure likely crowd behavior based not just on self-fulfilling prophecies, but also other factors, which actually form TA patterns, like observing how sellers tried some level a couple of times and gave up, which may increase odds for a bounce (just hypothetical example)?