I’m glad there’s at least one person around here who understands that charts are useful for decision making.
It’s also worth noting that algorithms (which make up 60-75% of overall trading volume) operate based on charts, volume, moving averages etc.
For example, when a large financial institution enters a significant position in a stock it will invariably execute that trade using volume weighted average price (or time weighted average price, or percentage of volume) - sometimes over one day, sometimes over multiple days or weeks.
Volume weighted average price is a moving average which relies on a chart’s price movement and volume to calculate when to execute a trade.
Add that to the big picture and a chart can provide extremely relevant information as to what the activity / demand or lack thereof is.
Charts are useful for reaction, NOT prediction - but that’s exactly what this thread is about - when
to sell (a reaction) - which is where a chart obviously provides useful information.