Why do some investors ignore technical analysis?

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Short answer:

Because some investors like to use fundamental analysis instead when making long term investments.

Long answer:

When doing investment research there are 2 different ways to analyse: Technical analysis and Fundamental analysis. Let's call it TA an FA out of simplicity. The main differences are:

• TA: is used to analyse the charts and make a prediction about future prices.
• FA: is used to determine if the asset you are invest in is a good investment. 

TA is often used by short term traders because it works well on shorter time frames. FA is more utilised by long term investors who buy and hold because it works great on longer time frames. 

The reason for this is that financial markets are always biased in one or the other way. Sometimes investor sentiment is very bad and most people are fearful. Sometimes it's the opposite when markets gone up a lot and everything is going great people become often very greedy. 

With FA it's almost impossible to predict the emotions of the masses, that's why it works better in the longer term. Ta on the opposite does work to predict short term movements in financial markets, that's why it's often used by traders. Especially Elliott wave and Fibonacci works great to predict short term prices. The reason for this is that people always react in the same way to events. Therefore financial markets move in certain patterns. This is one of my favorite books about this subject: https://amzn.to/2GhajfS