Hello out there…I have a question as to whether use of chart/technical analysis in order to make decisions to buy and sell a financial product/commodity/currency/etc. constitute a mortal sin?
Chart, or technical analysis, is where certain guidelines, techniques, or math formulas based on a stock’s history are used to “predict” whether a market will go up or down. No, its not like tarot cards or other “fortune telling” things because it is based on math formulas and patterns, but there are some similarities.
Now, I have been around this stuff for a long time and can say that its reliability is questionable in that it shows patterns and suggestions as to whether something is trending higher or lower or is over priced or under priced (and that’s another topic) - Weather forecasts are generally more reliable.