Is technical analysis in trading data science without algorithms?

In trading people often derogatorily refer to technical analysis as black magic. As a data scientist, I’ve always thought it seems like univariate time series forecasting without an algorithm. Obviously limited by human capacity of mental data analysis; at its core though it’s drawing some trend lines. Often it doesn’t work because the market is basically stochastic; in the same way though, time series forecasting the market doesn’t work either. I guess the conclusion would be that using algorithms or …

algorithms analysis data data science datascience science technical trading