[ert23]

Talking with a few NY traders I was told that they may use Technical Analysis Theory as a secondary framework to see what is going on just because if enough trades are made following these rules, the prices will follow the TA rules. TA is heavily relaying on human psychology.

These traders also told me that do not know anybody at the trading desk that has not quickly felt out of love for TA.

TA will work when nothing major is affecting the market.

Special events will affect the price is a way that TA cannot predict. Who has enough money or influence can also manipulate the prices. Changes in fundamentals can also affect the price in a way that TA cannot predict.