Thanks Luc for debunking the technical analysis myth.
I feel that there is not enough people saying this out loud. This is a fallacy that has absolutely no scientific basis whatsoever. I mean which other industry is trying to predict the future by drawing shapes on charts past data ? If I was doing this in my job I would get fired. The best it can do is give you a different visual representation of what has been happening, but it can in no way predict the future.

Yet so many traders believe in this, there are hundreds of books, people claiming to have been trading with this for years and years, hours long videos on youtube with serious people explaining you all the subtleties of their indicators and setups, trying to sound like math teachers, thousands of people on twitter or trading view posting their charts and boasting about their profits... For the beginner it does sound kind of legit.
And when you try arguing with them, at some point they will say that even if it's bullshit, so many people use it that it becomes a self fulfilling prophecy, which is utter BS as it would imply a vast majority of people are looking at the exact same signals and drawing the exact same conclusions. There are so many ways to look a the data, so many timeframes, markets, that this hypothesis is ridiculous.

I think lot of traders honestly think it is working, and some might have found a system that is somehow working for them, which is fine. But I do also think some people use it in a disingenuous way to trick people into buying books, seminars and subscriptions to paid chatrooms. I think it is important that new traders keep this in mind before buying into anything.