Here's my 2 cents on your reply. Charts are a mere reflection of the price action of a stock, and the there are many things that affect the price and what it does. Bullish setups are set up for a reason, and whatever those reasons are, they're manifesting into the price action you see.
I've had this argument/ discussion literally hundreds of times. Many people want to stay close minded on the subject and swear that TA is irrelevant, and the argument that "this stock isn't affected by TA" completely misses the point of what it does. News comes out, price reacts, charts reflects. It's the traders job to make sense of the noise and formulate a plan based on the charts, doing what they can to find trades with odds in their favor and good reward to risk.
Take it for what it's worth. You are entitled to your opinion, but I can assure you that what you say is not a fact. What is a fact is that charts have worked for me and have been my number one weapon in trading. If you're up to the challenge and are interested in seeing my side of it, go to that site I posted and read through the many articles and posts I've written. The blueprint is there to get you started, but it'll only work if you have an open mind.
One quick example of how I use charts to improve my odds and find trades with good reward to risk (notice I didn't say predict the future), DIMEQ is a buy trigger on Friday's close, and if it falls back below .48 and can't recover, it's a bail. That's the downside risk, but the upside is a breakout here. Remember this, if DIMEQ breaks out here, there is a ton of upside. I'm not saying that it'll run because of TA, I just used TA to apply structure to the action and form a plan. Let's see how it works. Long DIMEQ at .49.
