Quote from: exstasie on June 20, 2019, 03:12:09 AM

Quote from: mjglqw on June 19, 2019, 11:26:13 AM

What does that question even mean? Technical analysis is something that's used to evaluate and analyze the markets to potentially make better trades. How can something that's not even an event/incident nor an entity cause a price movement?

A lot of people believe TA is a "self fulfilling prophecy." The idea is that traders all see the same thing (like a triangle breakout or a head and shoulders pattern) and follow the chart patterns, and that's what causes price movements.

actually not all traders see the same thing on the same charts! that is the reason why when you look at speculation sites with lots of technical analysis like tradingview.com you see all kinds of speculation and different lines drawn on the same exact chart by different people!
and that is why many consider TA to be pseudo-science and "self fulfilling prophecy". and that is why it isn't the reason for price change.