I know what you mean Rangi. Am caught in two minds whether to account for fundamentals when charting. For sure, I try and enter trades in companies where I have some idea as to the fundamentals and a bit of background knowledge but the charts are meant to discount fundamentals.
What i've noticed in my very limited experience is that even if some fundamental news is released, it ends up playing out on a chart in a way that respects the technicals. Take a look at the RWD chart I posted earlier to see what I am referring to. Went up on news today but obeyed the "rules" to a tee.
Also look at the LYC chart I put up. The dip below the trend line was due to the Japan crisis but it ended up respecting a fork already in place from previous price movement.
In all honesty, I thought charting was all mumbo jumbo until I started to do some myself. Have spend a shed load of time on it because it has been somewhat of a struggle to understand initially but I am happy with the level of progress I have made in interpreting them since I commenced. That is not to say I consider myself an expert. Far from it.
