It always works and provides the right indicators for the psychology of traders.
technical analysis has been studied for decades and everything has been applied for a long time.
As a newbie, I also have the same questions as you. But when I learned it and tried it out, it was really real.
I wouldn't say it
always works, but if you use the right indicators then it should work most of the time.
If you're looking to get started with TA, I would suggest starting with simple indicators like RSI, BBs, etc. Then move onto Fib retracements, Elliot Waves, etc.