You're right, all investing, whether TA or FA is based on perception, or psychology if you will. However, the share market is a voting machine in the short term, but a weighing machine in the long term, which means that over the long term, the stock price will eventually reflect the fundamentals, and it's the FA investors that would have seen it coming years before hand. TA is mostly about investing in charts and short term movements, but FA focuses on the business itself. Both methods are viable and is there to cater to different types of investors.
For me one of the biggest difference between TA and FA would be the timeframe for investing. FA investors are willing to predict prices for the next 10 years or so, whereas someone who uses TA only looks at current price movements.
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