DislikedFor anyone who is interested, or too lazy to do their own research.
CHART PATTERN FAILURE RATE
ref: Enclopedia of Chart Patterns by T. N. Bulkowski
PATTERN FAILURE RATE %
DOUBLE TOPS 65
DOUBLE BOTTOMS 64
HEAD AND SHOULDERS BOTTOMS 5
HEAD AND SHOULDERS TOPS 7
RECTANGLE BOTTOMS 0
RECTANGLE TOPS 2
TRIPLE BOTTOMS 4
TRIPLE TOPS 15Ignored
If a pattern fails 65% of the time (loss = 20 pips) and wins "only" 35% of the time (profit = 90 pips), can we still make money hidethereal? http://forexfactory.com/images/icons/icon12.gif