Re: Technical analysis is a another form of manipulation. Here is everything I know,
Each person has his own truth. Why do you think that it is your truth that deserves more confidence than the truth of other people? I know people who successfully trade for many years using technical analysis. Try to prove to them that they have been wrong all this time and technical analysis is a lie. It seems to me that if technical analysis has existed for so many years and many people have successfully used it, then it has the right to life. Otherwise, he would have gone down in history. I believe that there are certain mathematical algorithms by which patterns can be determined. Of course, the fact that big players can play against technical analysis is quite likely. But this is a market, anything happens here.
I can prove. Easy.
What will be the next price in one quarter?
Who predicted last 2017 Dec's 20k price using TA?
Ask them. You can't use TA in trading. it sucks. you always end up losing using funny cups. Those TA gurus are so funny. They hate to hear truth. Fearful.
Your friends maybe lying you using TA as a coverup method. No one sell money for money. Same goes for strategy.
In CNBC, I know fat scammer always say price go to 200k, 20k, 50k, 10k, 5k using TA ahahahhahahah guess who is
Dog timmy Trading need data and it involve various data sources. Sure, one can use Google trends as a data source and make some profit but it's not long-term run as google vulnerable to automated keyword searching bots. So you gotta to find more data sources and clustering them. Data means money. TA means losers. TA is same as Casinos. It maybe have random chances but not much accurate.
My fellow Hedge funds, Quanta funds never ever use TA to trade. TA is a method to fool people. Some using them as a coverup and some are using them as a manipulative tool. Coverup means they wanna to hide their real strategy.
My 2 cents. If something so hard to understand then it's never ever work.