/biz/ - Business & Finance

Why do people insist TA doesn't work? All it takes is a cursory glance at a good trader's charts to see that there are patterns in the way that markets move that can be analyzed and exploited, yet every time TA gets brought up you get tons of people saying it's astrology tier, mentioning studies on how it doesn't work, saying it's for brainlets and markets are purely random etc. I really don't get it.

The thing is, I don't actually have any evidence to prove that it does work, but that's just because I don't keep good records. In my experience there are certain places that the market very often reacts to like major EMA's, ichimoku cloud, daily, weekly and monthly closes, fib levels. Obviously it doesn't work 100% but it works often enough that the hate TA gets seem completely unjustified.

Meanwhile it seems like people are always clamoring to explain price movements with fundamental factors. Look at Trump's recent tweets about Bitcoin. When he first tweeted them, nothing out of the ordinary happened, then days later when Bitcoin finally crashed, every major media outlet was saying that the market was reacting to Trump's tweets despite the fact that TA had been pointing to a correction for a week.

Is TA just something that NPC's physically can't into?