Its the individual who makes charting a self fulfilling prophecy. Technical analysis is just a tool of course. It is up to the chartist to be dilligent and follow their own rules, such as buying or selling supports and resistance, using stop losses etc.

I've personally seen and been duped by false signals etc, so its not perfect and cannot always predict unknowns - like say a company will be releasing big news -- unless there is volume suggesting the transactions in the equity are increasing, its impossible to predict something impending.

But chart is as you put it, elegant, math, psychology - it tells the story of a particular equity - it is predictive but not always perfect.