Charts tell you nothing. The value of an investment depends on it future value. It's past value is irrelevant.
Every stock market and exchange in the world use historical charts. They use sophisticated analysis software to predict how the market will behave. Are they all wrong?In short, yes.
I can tell by the words you use that you are an investing newbie. Here is my advice to you: Investors make money because they learn, they do research, and they uncover opportunities. There is no magic formula. There is no secret system. People that believe that they can predict the future by looking at charts are nothing more than financial astrologers. Technical Analysis pretends to be a science, but the truth is that it is based on fantasy and superstition, and is supported only by confirmation bias.
A fool with a tool is still a fool...but complete denying of a tool and/or a process...
