I think Canada Bulls or any other technical analysis is just a tool. It has its merits and limitations. You have to know what you are doing and not follow blindly, because TA's only foundation is the past, i.e. previous share price fluctuations.

It cannot take into account unexpected future events. However, it will indirectly inherit expected future events at least somewhat, because market participants' expectations regarding these events are continuously influencing the share price.

Bottom line: A fool with a tool is still a fool.