Freddie Mac-No Politics (FMCC)

[mr_bitterness]

If you are relying solely on the charts, it really depends on which patterns you are testing, and whether you make your calls as to direction or price target.

I have seen independent studies of candlestick patterns that give most patterns an accuracy just over 50%. Will have to go back and research where I saw it, over what time periods the patterns were expected produce and so on. There was a very small number of very infrequent patterns that were given much greater accuracy (like >70% as I remember)

But those are just price patterns used in predicting direction. You can increase the odds by using trends, other technical indicators and mixing charting in with fundamentals, news, sentiment and searching (waiting) for the ever-important catalyst.

If you are going for targets rather than directional trends, targets change every day imo, as the chart provides more info.