The chart format is so inconsistent how in the world you even draw any kind of conclusions from this?
The conclusion so far is that technical analysts/chart traders, on average, perform worse than a coin flip.
Isn't that what you set out to prove? However you have to take into consideration that 6 wins out of 15 tries can be profitable if your risk to reward is 1:2. 40% win rate is pretty close to my average.
Imagine a long queue of traders, imagine maybe 100 traders standing in line. The first 2-3 traders are the leaders, they have some type of ability to be the whales, be it money, technology, insights, technique, algos, balls, skill, experience..... Next in line are another half dozen who have the smarts but possibly not the same clout as the first whales in the queue. After that come all the wannabees, they attempt to trade by following the leaders using TA. Now down the queue is a deterioration of skills the further down the line you progress. Question: How is it possible that TA followers can become better in terms of performance when following? If TA is all about reacting and imitating and following, how can they beat the leaders?
I initially set it up to test a group that said they had an edge (hint: they do not). how are you determining if a risk / reward is 1:2? Are you just pointing to a line on the chart and saying “I think the stock can reach this” and then place a stop loss somewhere below the current price?