The 8-10-12-13 new price lines patterns refer to a series of consecutive candlestick lines, each with a higher high than the previous one, that occur during an uptrend. Specifically:
- 8 New Price Lines: A pattern of 8 consecutive candles, each with a higher high than the previous one. This pattern is supposed to act as a bearish reversal, but it actually acts as a bullish continuation 53% of the time.
10 New Price Lines: A pattern of 10 consecutive candles, each with a higher high than the previous one. This pattern is also supposed to act as a bearish reversal, but it only does so 51% of the time in a bull market. 12 New Price Lines: A pattern of 12 consecutive candles, each with a higher high than the previous one. This pattern is supposed to confirm the uptrend and requires the following candles to provide confirmation. 13 New Price Lines: A pattern of 13 consecutive candles, each with a higher high than the previous one. This pattern is also supposed to confirm the uptrend and requires the following candles to provide confirmation.
The key point is that despite the theory that these patterns should act as bearish reversals, the actual performance data shows they tend to act more as bullish continuations, with the uptrend often continuing after the pattern completes. The patterns are quite common, but their overall performance ranks poorly compared to other candlestick patterns.
how reliable are the 8, 10, 12, and 13 new price lines patterns in predicting market trends
Based on the detailed information provided in the search results, the 8, 10, 12, and 13 new price lines patterns are not very reliable in predicting market trends:
- The 8 new price lines pattern is supposed to act as a bearish reversal, but it actually acts as a bullish continuation 53% of the time.
Its overall performance ranks 90th out of 103 candlestick patterns, which is considered terrible. The 10 new price lines pattern is also supposed to act as a bearish reversal, but it only does so 51% of the time in a bull market, which is essentially random. Its overall performance ranks 100th out of 103 candlestick patterns, which is the second worst ranking. The 12 and 13 new price lines patterns are supposed to confirm an uptrend, but they require the following candles to provide confirmation.
- Their performance is not quantified in the search results.
The key point is that despite the theory that these patterns should act as bearish reversals, the actual performance data shows they tend to act more as bullish continuations, with the uptrend often continuing after the pattern completes. Their overall performance ranks poorly compared to other candlestick patterns. Therefore, these patterns cannot be considered reliable indicators for predicting market trends.
what are the key differences between the 8, 10, 12, and 13 new price lines patterns
Based on the detailed information provided in the search results, the key differences between the 8, 10, 12, and 13 new price lines patterns are:
Number of Candle Lines
- 8 New Price Lines: Characterized by 8 consecutive candles, each with a higher high.
10 New Price Lines: Characterized by 10 consecutive candles, each with a higher high.12 New Price Lines: Characterized by 12 consecutive candles, each with a higher high.13 New Price Lines: Characterized by 13 consecutive candles, each with a higher high.
Theoretical vs Actual Performance
- The patterns are theoretically supposed to act as bearish reversals, but the actual performance data shows:
- 8 New Price Lines acts as a bullish continuation 53% of the time.
10 New Price Lines acts as a bearish reversal only 51% of the time in a bull market, which is essentially random.The performance of the 12 and 13 New Price Lines patterns is not quantified, but they are also supposed to confirm the uptrend rather than reverse it.
Overall Performance Ranking
- The 8 New Price Lines pattern ranks 90th out of 103 candlestick patterns in overall performance, which is considered terrible.
The 10 New Price Lines pattern ranks 100th out of 103 candlestick patterns in overall performance, which is the second worst ranking.
- The performance rankings for the 12 and 13 New Price Lines patterns are not provided.
In summary, while the patterns are theoretically supposed to act as bearish reversals, the actual data shows they tend to act more as bullish continuations, with the 8 and 10 New Price Lines patterns performing particularly poorly compared to other candlestick patterns. The 12 and 13 New Price Lines patterns are less well-documented.
