An Empirical Study on the Performance of the “Head-and-Shoulders” Technical Strategy
Abstract: The performance of technical analysis has long been a controversial topic between the practitioners and academics. In order to examine the performance of one of the most popular technical trading rules, the head-and-shoulders strategy, the study uses hourly historical data over the period...
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2014
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| Online Access: | https://eprints.nottingham.ac.uk/27537/ |
| Summary: | Abstract: The performance of technical analysis has long been a controversial topic between the practitioners and academics. In order to examine the performance of one of the most popular technical trading rules, the head-and-shoulders strategy, the study uses hourly historical data over the period of 01/06/2004-01/06/2014 on six currency pairs in foreign exchange market. Returns and profits were compared with buy-and-hold strategy and the results suggested that the head-and-shoulders strategy unperformed the buy-and-hold strategy. |
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