In this project, quant analyst Pontus Green investigates harmonic markets through technical analysis and explores potential bias or non-randomness in the forex market.
The pattern is defined through geometric arguments between four points on the market movements.
EUR/USD and AUD/USD currency pairs, ranging from 2003-2018, was analysed. In total, 7382 patterns were found. For each of the patterns, two different trading strategies were used to gather results.
The results did not provide any indication of a market bias or non-randomness, further investigation is needed in order to draw definite conclusions.
To read the full report, please see attached PDF below:
