I am not a pro at this trading business but I believe I can make a worthwhile comment on this topic. I have been studying
FX for 7 months and tech analysis for 4 yrs in equity's.
There are parallels but
FX analysis is different in that it is more volatile, I believe.
Anyway I want to say that predicting the market price movements is not what analysis is about. My understanding is that we are predicting the "best probability" we can, of market movements. The market has a good or high probability of going the way we expect depending on how good our analysis was.
It is of course not always true is it? Thats why we have a stop loss strategy. "We take several small losses so that we may take a few large profits". I am not too sure who said that, the Aussie trading guru Darryl Guppy spring to mind.