Let's face it, using technical analysis based on past events can...

Let's face it, using technical analysis based on past events can only be as accurate as the past events repeating themselves. In reality we live in a dynamic environment where future events can never mirror the past.
That is why economists are all but useless at predicting where the FX rates, GDP etc will be in 12 months time. They work on the same theory as chartists - "all things being equal then xxxxxx will be the outcome"
In the real world things are never "equal".
Technical analysis may indicate (for example) that if gold breaks above a resistance point of $xxxx, then $xxx is the next target. So what happens if gold does breach the first point and then the next day a central bank announces the sale of their entire golds reserves - the price crashes. TA cannot predict this.
I doubt you will find a pure TA model that could ever "predict the past", but even if you could, for my reasons above it would be of no relevance in predicting the future.
Me? I just prefer to stick to the good old fundamentals and financial analysis. Not to say I don't listen to the TA guys because they will offer me an insight into another segment of the thinking of the investment community.