could not agree more about it's fallacy
technical analysis is nothing more than voodoo...your better off just flipping a coin....if it worked everyone would be rich...use your brain and study hard the fundamental shifts because THAT is the only thing that moves the market simple supply and demandIgnored
One of the underlying theories validating TA is that fundamental shifts, supply and demand, etc., are reflected in the charts as price action. In a very real sense, TA is just another means of studying the fundies.
Probably the most successful traders are using a combination of TA and news. It's dangerous to completely ignore either, imho.
There are few things in life that are absolute, least of all in currency trading.