Harmonic Pattern Share Analysis

The aim of this work is to test harmonic chart patterns on europen and american stock markets. The logic of classical chart patterns is based on behavioral psychology. In the year 1997, Larry Pesavento introduced harmonic chart patterns in his book "Fibonacci Ratios with Pattern Recognition" [1]. Harmonic chart patterns contain ratios based on fibonacci principle. Fibonacci principle is not based in behavioral psychology, it is based in natural law. Harmonic patterns are the first chart patterns, that are not based in behavioral psychology. The main goal of this work is to answer two questions: Is strategy based on harmonic chart patterns more profitable that pasive portfolio strategy? Are the harmonic chart patterns more profitable than the classical chart patterns