Hi, I've always wondering if there are any tests made for testing the Statistical significance of all these Technical analysis patterns. I dont want to propagate the efficient market hypothesis as this is not my intention.
For Support / Resistance in example, it would be a benefit to know which levels are actually important. There are historical resistances, pivots, fibs, round numbers, some are even using halfs, and quarters...and if you all draw them in your chart, there are plenty of lines.
In FF.com you find statements like "xxx works" or "i find xxx significant" but its always that mystic blabla, not backed up by "hard facts" aka statistics.
It would be great if somebody can point me to statistics like that, or better tell me how to perform such tests by myself as I am unfornutaly not a statistic pro :/
thanks
For Support / Resistance in example, it would be a benefit to know which levels are actually important. There are historical resistances, pivots, fibs, round numbers, some are even using halfs, and quarters...and if you all draw them in your chart, there are plenty of lines.
In FF.com you find statements like "xxx works" or "i find xxx significant" but its always that mystic blabla, not backed up by "hard facts" aka statistics.
It would be great if somebody can point me to statistics like that, or better tell me how to perform such tests by myself as I am unfornutaly not a statistic pro :/
thanks