“I can calculate the motion of heavenly bodies, but not the madness of people.”...Issac Newton
All Charts cannot be analyzed. There are times when charts just give no message on what they intend to do and as Technical Analyst, one should be honest to accept that.
Let me give you one illustration: McLeod Russel
Nobody knows what stock will do next. For last many days, weeks and months - the stock has been all over the place with no clear trend and direction. This is the behaviour of the stock and it will remain so till the stock changes its behavior for good. Right now, it's an Aawaara i.e. trendless stock
The blogpost is purely for educational purpose.