Thanks, and news will always blow away the TA. Whe

Thanks, and news will always blow away the TA. Where the TA helps IMO is in the in between times, understanding what we're seeing/commentary, and setting buy and sell targets.

That's why we are more sensible in focusing at buy points in an up-trend, and more cautious and nimble if we choose to sell some scalps. (You need a quick re-entry proven wrong for example)

There is a certain self-fulfilling prophesy effect when enough people are using charts, so they become a factor. In the old days it was just tape reading, but same effect as people remembered numbers they either had success at, or regret for missing at, or glad to get out at (break-even).

"Damn, I missed that, if I ever get another chance" or "Damn, that was nice, hope to see that chance again" or "Damn, I'm trapped, if only the price comes back to my entry I'm out of here in a flash."

So these lines on chart and numbers on a tape all have human emotions attached to them for the participants who have money involved.

It's similar to tape reading now, but more visual now that charting software is so common and so many people are looking at them.