Yeah, this is true... if enough people believe that if the market does a loopty oopty, then it signals a bullish reversal, it will be a self fullfilling prophecy... These shapes and signs of course don't mean shit, but the fact that so many people believe that they do mean something can make meaning out of nothing. Just like how money has value... we make it so...
RE: Why Technical Analysis in Trading is 100% Bullshit