You must also know Thomas Bulkowski through the Encyclopedia of Chart Patterns (Encyclopedia of Chart Patterns). This book is good in that it not only lists all the price patterns traded in technical analysts, the author also gives you statistics on the probability of winning for each price model, what kind of market it is. best used gauge pictures etc.

Or moreover, just found a table comparing price models by Bulkowski backtest author to help you know the price model with the highest probability of winning. According to the author, the following data has been backtested for about 30,000 samples and calculated the profitability of each model in the direction of breakout both up and down in 1.2 and 3 months. To calculate the profitability of each model, the author uses the measure from the breakout point of the price model until the market peaks or creates a bottom, that is, to measure the maximum profit.

See the following table:

Thus, the number one position in this table with the profitability efficiency of over 20% per month, 2 months, and 3 months is the model of the High and tight flag. This is a bunting flag pattern that traders often encounter.

Features of the High and Tight Flag price model

Those who use the familiar pricing model will be familiar with this type of model. High and Tight Flag formed in an uptrend when prices moved strongly in one direction. After increasing, the price appears a small sideways price range (a box-shaped is circled in the image).

Traders will trade by placing a buy stop order above this price pattern to trade in a strong uptrend from before. For details on the High and Tight Flag pricing model, you can visit the author Bulkowski's website at the bottom of the article (the source section) or visit the classes section of the forum.

Note: Currently sharing the book of author Thomas Bulkowski (Encyclopedia) on the forum. If you want me to send it, please message me in this article.