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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Trading Machine who wrote (24415)	6/18/2000 8:31:00 AM
From: donald sew	Read Replies (4) of 42787

Trading Machine, >>>>> In my "Encyclopedia of Chart Patterns" by Bulkowski, he says that the H&S pattern reaches the price computation only 63%....<<<<< Just from experience I really never put alot of emphasis on H&S patterns, since I noticed that it lacked strong accuracy. On the other hand I wont ignore that pattern so I would still keep a mental note. H&S patterns normally are signs of a big move, and in the past I mentioned that the probabiity of predicting a big move is, AT BEST, 62%. So if H&S patterns has an accuracy of 63% in predicting the bigger move, that is actually quite good, but still only slightly better than flipping a coin. Just interesting to note that the FIBONACCI number of 62%(61.8%) keeps on popping up when it comes to probabiity. seeya

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