FEYE: High tight flag on the weekly time frame
Based on the research done by Bulkowski in Encyclopedia of Chart Patterns, the highest probability patterns are high tight flags in established uptrends.
Performance rank of 1/23 in bull markets (based on his assessment of chart patterns). His study was based on 1991 - 2005 data.
From the book -
"The average rise in a bull market is 69% and patterns in both bull and bear markets have 0% break-even failure rates. Yes, they do fail, but just 5 out of 307 failed to climb at least 10%, and none failed to climb at least 5%. That is an excellent start for any chart pattern. The percentage meeting the price target, called the measure rule, works nearly all the time (90%) but is based on half the move from the trend start to the flag, projected upward."
Performance rank of 1/23 in bull markets (based on his assessment of chart patterns). His study was based on 1991 - 2005 data.
From the book -
"The average rise in a bull market is 69% and patterns in both bull and bear markets have 0% break-even failure rates. Yes, they do fail, but just 5 out of 307 failed to climb at least 10%, and none failed to climb at least 5%. That is an excellent start for any chart pattern. The percentage meeting the price target, called the measure rule, works nearly all the time (90%) but is based on half the move from the trend start to the flag, projected upward."
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