Interesting reflection, especially the comparison with penny shares. For me, technical analysis is more about awareness, determining potential scenarios and being prepared to react to changes in price. Also, when comes to investing or trading, it can’t be seen in isolation from other important aspects such as timing and risk management.
Forecasting aside, though, there’s something alluring about the idea that the patterns in the charts reflect collective human behaviour and that this might not be as random as people commonly think (Fibonacci, harmonics, financial astrology).
Thanks for replying. It's a micro-life experience in trading and a few notes including my frustration with so called experts. Best wishes, Andy