(in reply to a query)
very valid points. thanks for sharing.
i have given a lot of attention to these considerations in recent times. that is why i say that retail traders are playing on technical level and getting beaten at tactical level.
i do not rely too much on technicals these days.
one of my friend in a south indian city has a friend in a european stock exchange and is a top notch software professional. his job is to program and test and improve and manage the software for the top FIIs/ Banks which invest globally. his is quite a "secret" and "sensitive" job. he once told my friend that he comes to know whenever those big fat honchos are about to buy or sell en'mass. he told that they have all the info globally before hand. he told him that big men know it beforehand and make it happen for rest of the world. no amount of technical study can predict what those "doers" are going to do.
technicals are boys toys to self amuse. they do work but not sufficiently.
therefore, i have been working for the last several months to find ways to know DIRECTLY what the "operators" are going to do rather than "INDIRECTLY" trying to guess thru technicals what they are likely to do.
i don't think that there can be more "scientific" way to do homework for trading!
and trust me finding the shadow or fingerprints of operators is not impossible if you go all out with that focus. have found 2-3 and working to develop the details.