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Chart patterns have limited potantial, like everything in life there is no sure thing. Thomas Bulkowski has done a heap of reseach on chart patterns, I have his book "Encyclopedia of Chart Patterns". His studies list the success and failure rates of hundreds of familiar patterns. Its considered the foremost study into chart complex chart patterns i believe.Double tops and bottoms are actually quite successful in all time frames, especially if they are 'tall', but it depends on how you define the patterns. Its not as simple as defining a double bottom as two lows with a high in between.Do some more research....CanOz
Chart patterns have limited potantial, like everything in life there is no sure thing. Thomas Bulkowski has done a heap of reseach on chart patterns, I have his book "Encyclopedia of Chart Patterns". His studies list the success and failure rates of hundreds of familiar patterns. Its considered the foremost study into chart complex chart patterns i believe.
Double tops and bottoms are actually quite successful in all time frames, especially if they are 'tall', but it depends on how you define the patterns. Its not as simple as defining a double bottom as two lows with a high in between.
Do some more research....
CanOz
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