I note that there are many people who claim to be successful with TA and pinks, and I have no doubt that some are sincere.
But the insane volatility of PPS has way more to with ever-changing share structure, manipulation and severe volume swings than it does with cups and handles and candles.
And since charts have no way of telling you when a stock is about to be heavily manipulated by insiders, have the drainplug pulled by a crooked officer, or be shutdown by outside forces, charts can really hang you out to dry.
I think the placebo effect is at work too. People will remember and cling to their occasional successful chart plays, and conveniently forget the non-events or failures. It's human nature.
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