**Is there any good statistical data on Technical Analysis Patterns?**
Hi,
First post on this site. I've been trading stocks/options for a few years with mixed success. I've read up a lot on technical analysis, but have always been frustrated with a couple of aspects - first, unclear rules for identifying patterns, even simple things such as support and resistance. Second, a lack of statistical evidence supporting the use of those patterns. It seems to me that something like a 'descending triangle', for example, can be defined mathematically and subsequently backtested. From this, you could derive some statistics on the pattern's effectiveness. Can anyone provide a good resources for this kind of thing?
watkins |