Those who believe TA is bogus probably believe fundamentals determine price. But how can one believe that fundamentals determine price and yet price does not reflect fundamentals? TA is a legit perspective of fundamentals. Furthermore price/time alongside simple laws of economics is in fact a wave system that can be described by science.
TA is not "bogus", but it is commonly over-rated by users, imo. The most useful signals are sometimes the ones that are "false", since you can get good traders caught by surprise and a huge move in the other direction.
Exactly. Very easy to draw lines on a chart that seem to work until they don't. If you can get the majority of market players to believe in a TA setup then you do the opposite.
