Real technical analysis requires identifying demand zones that haven't been violated, set your entry, and set your exit according to supply zones. And always use a 3:1 risk reward. I'm not about to teach everyone how to trade. That's my job. I will identify garbage when I see it though. And trust me I'm not alone.
See the above. Notice how you got a strong move out of each one of my demand zones. Yes, it wasn't the end of the bear cycle but I never said it was. All I do is point out good demand zones that are likely to reverse price which is exactly what each of my demand zones did. THAT IS REAL TECHNICAL ANALYSIS. You can use lagging indicators all you want and look fancy but you'll find that your wrong just about as many times as I'm right.
On the other hand, User10000's analysis is ostensibly *not* intended for identifying trades. It's purely an Elliot Wave theory exercise. All User10000 wants to do is apply the theory to correctly describe price action.
Given the non-perfect predictive power of Elliot Waves, this approach will often be wrong, but hey, I follow these analyses because of their lack of hybridity. It's instructive.
As for the use of Fib ratios, these aid in describing (not predicting) relations of proportion between waves. That's pretty standard EW as far as I've observed.
So yes, in terms of your purposes - i.e. identifying demand and supply zones, this stuff may well be "garbage." But that's just not what these analyses are for.
You can't tell me that if you can consistently beat the market by using a trading system, which relies heavily on MACD, that it's not real TA. MACD is useful for seeing shifts in price momentum and is one of the most reliable tools for catching bottoms (price divergences - serious loss of momentum towards the end of impulse waves).
You're either a fool, a troll, or a supremely arrogant person if you can say such things, when there are literally hundreds of thousands, if not millions, of people out there who put up consistent profits using the very indicator that you basically say is "garbage".