I agree. Technical analysis can be a great tool, IF supplemented with fundamentals and news. Technical analysis is basically the psychology of price action. However, Haijin seems to believe his chart readings are sufficient without looking into any recent news or fundamentals at all. This is a foolish way to trade.
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I mostly agree with you. About the only place we differ is that I am more of the school of thought that the price makes the news, the news does not set the price; its strange concept I'm sure for those that may not do this 12 hours a day. Regardless I concur he seems to be of the belief that he can draw lines on a chart and will them into existence.. It does not work that way, the greater market will always over rule foolish predictions.
Ha! It's the chicken or the egg scenario I guess.
True, very true, and excellent way of looking at it... :)