Does TA really work ?

[Alina94331]

Here is a chart of the Lear Corporation traded on the NYSE.
It has it's own thread in the US part of the forum but have decided to bring it over here to spark more discussion that it does where it is now.

[Alfredten]

Re-reading "Foundations for successful Trading" by Bill McLaren I found the following statement:
"Sideways movements(consolidations) that price moves down into, that become narrow and dull are indicative of a base or bottom"
This is certainly the case with Lear so it seems unlikely that the SP will move down to my short trigger.