caa a22 4500 467895813 CHVBK 20180406152803.0 cr unu---uuuuu 170328e20060101xx s 000 0 eng 10.1007/s00181-005-0007-8 doi (NATIONALLICENCE)springer-10.1007/s00181-005-0007-8 The performance analysis of chart patterns: Monte Carlo simulation and evidence from the euro/dollar foreign exchange market [Elektronische Daten] [Walid Omrane, Hervé Oppens] We investigate the existence of chart patterns in the euro/dollar intra-daily foreign exchange market. We use two identification methods of the different chart patterns: one built on 5-min close prices only, and one based on both 5-min low and high prices. We look for twelve types of chart patterns and we study the detected patterns through two criteria: predictability and profitability. We run a Monte Carlo simulation to compute the statistical significance of the obtained results. We find an apparent existence of some chart patterns in the currency market. More than one half of detected charts present a significant predictability. Nevertheless, only two chart patterns imply a significant profitability which is however too small to cover the transaction costs. The second extrema detection method provides higher but riskier profits than the first one. Springer-Verlag, 2005 Foreign exchange market nationallicence Chart patterns nationallicence High frequency data nationallicence Technical analysis nationallicence Omrane Walid IAG Business School, Université Catholique de Louvain, 1 place des Doyens, 1348, Louvain-la-Neuve, Belgium aut Oppens Hervé IAG Business School, Université Catholique de Louvain, 1 place des Doyens, 1348, Louvain-la-Neuve, Belgium aut Empirical Economics Physica-Verlag 30/4(2006-01-01), 947-971 0377-7332 30:4<947 2006 30 181 https://doi.org/10.1007/s00181-005-0007-8 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s00181-005-0007-8 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Omrane Walid IAG Business School, Université Catholique de Louvain, 1 place des Doyens, 1348, Louvain-la-Neuve, Belgium aut NATIONALLICENCE 700 1- Oppens Hervé IAG Business School, Université Catholique de Louvain, 1 place des Doyens, 1348, Louvain-la-Neuve, Belgium aut NATIONALLICENCE 773 0- Empirical Economics Physica-Verlag 30/4(2006-01-01), 947-971 0377-7332 30:4<947 2006 30 181 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer