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I have studied technical analysis for many years. What I have discovered might come as a surprise to many: The majority of technical analysis is pure nonsense.

While patterns and indicators appear to repeat themselves in a consistent manner, most of the time these patterns have zero predictive value and are not consistently repeatable when properly statistically tested in the stock market.

Hindsight bias and flaws in human perception are the main reasons that technical analysis remains popular yet fails again and again when applied to real-time decision making in the stock market.

However, there are two technical analysis patterns that I have found that do actually put the odds in your favor when tested over a series of trades. Remember, this does not mean that every trade entered due to these patterns will be a winner. However, it does mean that more trade entries than not will results in profits. (more)

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