[a “technical analysis” chart shows a lot of silly things: a bull flag, a falling wedge, a hairy bear channel, a bidet loop, a top bottom, a blood candle, and a testicular squeeze]
[character] Isn’t all that “Technical Analysis” stuff basically astrology?
[proud traderbro, index finger up, in his STONKS hoodie and backwards cap] Oh yeah? If TA doesn’t work, then how come most daytraders use it to successfully lose cash?
It’s self fulfilling… The market often behaves how those in it think it should behave.
It could be self fulfilling if the analysis had any objective metric in it at all.
But it doesn’t, so people can’t agree on the prophecy, so they can’t fulfill it.
But it’s still subjective enough that you can fit any historical data, so no loss.
But they’re not computers trying to show any graph can be made to fit anywhere… They’re humans, sticking things in the most obvious places/ways… Then sometimes writing about it in communities the others read.