Loading ...ABX ZOOMED IN HEAD AND SHOULDERS PATTERNS
Fully………this is a semi zoomed in view of the 2013-2014 ABX period you used as an example.
Clearly more than 95% of these patterns played out.
What you are using as examples within your rectangular boxes are more aptly described as just that….rectangular consolidations within a down trend.
The site I cited did an actual STUDY, and not just some subjective, pulled out of a hat number like hmmm lets see, “lets go with 74% ” lol
See Avi’s remarks below
NOTHING in TA or Anything else in life is 98% predictable
on any chart there are lots of INH patterns
When a stock is rising the usually break out UP…duh
When a stock is falling they usually fail
We agree to disagree…but I feel it is dangerous to promote this idea of 98% success rates
and extremely naive
I am all done with this discussion Tommy…Good luck to you going all in every time you see a right shoulder
I hope nobody else will do so .
Lastly..I am sure you can ask anyone with TA experience ( like Avi) if there is a pattern of indicator or ANYTHING that has 8% predictability and they would scoff at the idea
I have only recently heard of Avi on here and what I gather is that he relies on Elliot Wave for the most part.
Elliot wave analyses is subjective from what I understand.
Does Elliot Wave even recognize head and shoulder patterns within its discipline as separate entities, or is it just another wave to them?
A right shoulder is just a higher low.
Last time I checked, a higher low is usually bullish, no?
My Point is there is NO ta discipline on the Planet that has anything close to a 98% reliability in whole or in part
EW Cycles Chartology Indicators PNF you name it…there is nothing
Yes a right shoulder is a higher low…but not all higher lows lead to higher higns
its a crapshoot
How long have you been doing TA Tommy ?
I believe you said you are relatively new ?