Please leave your opinion on why a chart pattern fails?
Also please suggest a system with a consistent failure rate of above 95%.
Also please suggest a system with a consistent failure rate of above 95%.
luv to loose.....
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DislikedPlease leave your opinion on why a chart pattern fails?
Also please suggest a system with a consistent failure rate of above 95%.Ignored
Dislikeda better question is probably 'why do chart patterns work'... if, in fact they even ever do.Ignored
DislikedPlease leave your opinion on why a chart pattern fails?
Also please suggest a system with a consistent failure rate of above 95%.Ignored
Dislikedchart patterns fail because they are supposed to fail sometimes. If they did not, then the holy grail would exist. Chart patterns in and of themselves would be lucky to give more than 50% probability of one direction over the other. They are usefull in context of price action and market sentiment They...Ignored
Dislikedalways be fading.....this nugget means a lot for pros......I am just trying to understand why they fade the novices like me? also if a pattern is there, its there for all to see, and act accordingly, say a double top, everyone would short sell, then why it fails.....again there are failed failures, and so on...
say a triangle in geometry, even a kindergarten kid would able to identify a triangle, but try to find a triangle in a price chart, the kid will laugh his heart out......Ignored
DislikedIf all patterns fail , then we need to do the exactly opposite to what the system signals to be profitable consistently, but IMO a successful failure system is a rare commodity. Views and Counter views are welcome.Ignored
DislikedIMO, that differently encompasses the whole arena of fading, etc...
Candlesticks are just another way of representation of price behavior, so also bars etc....moreover Nison only made the candlesticks more popular in west, which was in existence long before in the east, Japan.
Trading is not based on only chart patterns , as u rightly said it had to be used in conjunction with many others like the oscillators, volume, etc etc....but still if one knows the psychology behind a failed pattern he can trade better, thats why I asked the question,...Ignored
DislikedIf all patterns fail , then we need to do the exactly opposite.Ignored