Although the validity of technical patterns is often questionable (How often do we see valid backtests of assertions made on technical grounds?), it is their poor reliability that I find particularly problematic. It is not unusual to find two technicians look at the same chart and arrive at radically different conclusions based upon the lookback period considered and the definition of the pattern. One might see one wave count in a given market; another will arrive at a different count. Both will entertain "alternate counts" that lead to radically different conclusions. Can you imagine radiologists arriving at wildly different interpretations of imaging scans? The lack of reliability would make it difficult to develop any kind of valid surgical intervention.