Trading price action has "worked" for millennia. To benefit from this, however, one must know why price moves up and down. Not everyone understands this.
You forget that dB claims uncanny accuracy in all market conditions. Heck. Even since wyckoff wrote the riddle book. I think he is recorded saying 88% accuracy or some such. We are dealing with a savant. Peace. surf Ps. The truth is , based on his own words, he really has limited understanding of how markets really work-- which u eloquently point out.
None of which is true. Is this how you go about winning arguments? Like I said, arguing with you is like playing chess with a pigeon: it's just going to crap all over everything and act like it's won anyway.
Despite all the other issues, having knowledge of these supposed patterns is false knowledge since there is no consistency in repeating patterns--- how can you be consistent using this same old tactic??
Of course, there's consistency. The S&P and NDX, among others, have been in a consistent pattern for the past seven years.
My winrate is comparable to those of others who follow the SLA (and not appreciably different from any of the numbers I've seen reported by those who trade price, e.g., NoDoji). This winrate number than you keep throwing around was for one month over a year ago. I suggest you get over it.
Hindsight is 20x20. You cant extrapolate that into the future. If you could, it would be quickly exploited by dozens of supercomputers that scan for such things. In fact, you cant even identify how many bars in one direction will increase the odds that the next bar or series will be in the same direction. How then could your price system exploit patterns based on price bars???
What is that rate? My bet is it would place your group among the greatest traders who ever lived. Hence your fear in being ridiculed and exposed by saying it again.