Many of us traders have tried to find their own very best unique trading system hoping that it’s authentic enough to help us win most of the trades. When trying to find our “holy grail” we are thinking that other trader’s won’t be able to do as good as we can.
However, only an understanding of underlying market drivers, or at least the chart patterns they produce, can provide any kind of edge. Whether that is ‘conventional’ or ‘unconventional’ is moot.
TA provides a window into HOW price has behaved, but it doesn’t explain WHY, and to whatever extent it fails to measure either ‘fair value’ or current sentiment, its predictive capability is limited). All systems, whether fundamental or technical, make the assumption that aspects of price behavior will repeat itself frequently and consistently enough to allow a systematic income to be derived.