Trading requires you to anticipate changes in investor expectations. Technical AND fundamental analysis helps you understand the forces that are influencing market participants. Understanding fundamentals can help you filter out the frequent false signals from technical models, while technical analysis serves as an excellent risk management and timing tool.

There are many ways of profiting in the market. Trend following is one. It isn't the best one, nor is it the only one. I'd argue traders would be better served focusing on classical technical analysis (chart patterns), and then spending most of their time learning how to manage risk. You can still make money with these "old" concepts, and gain practical experience with the psychology of trading.