[jonknee]

If you're doing technical analysis yourself it's a joke and indeed reading tea leaves. However, technical analysis is essentially what high-frequency trading automates and has made many people billions of dollars. You have no chance competing though, by the time you have identified your Fibonacci retracement or whatever other snake oil you're looking for, there have already been millions of actions taken by hundreds of HFT firms that have likely already eaten your lunch before you knew you were hungry.