The same chart pattern will not work all the time and will present different results , on the same chart pattern , based on context , fundamentals driving prices and confirmation from indicators .They work when applied on higher time frames . You have to apply technical anylysis selectively , it is just a tool .Indicators are lagging , but usually they should be applied for confirmation and they work for confirmation.A building tradesman does not use a screwdriver , when a drill is required , equally skilled traders know what technical skills to apply at any point in time. Daily trading can also be profitable , but only skilled/selective day trading is profitable. I use technical anylysis succesfully in my Dax journal here. technical analysis dax signal https://www.elitetrader.com/et/threads/profitable-day-trading.305142/ Real traders have good mental skills ,on when to apply technical anylysis and knowledge of these skills can be found in psychology threads by me. https://www.elitetrader.com/et/members/trading-education-buyer.495363/ To trade successfully, think like a fundamentalist; trade like a technician. It is imperative that we understand the fundamentals driving a trade, but also that we understand the market's technicals. When we do, then, and only then, can we or should we, trade. You can get a free technical trading system in the Dax journal.
Everything works until it stops working and you give it all back. Let's hope you give some of it back and keep some for yourself.
Everything works when markets are trending , the market is now in a trend .but even in a trend it can get choppy you can lose . Beauty is in the eye of the beholder.that which one person finds beautiful or admirable may not appeal to another.