Actually, this is like asking whether the economic forces of supply and demand really work. Or whether or not, human beings exhibit predictable, repeatable behavior. The answer to all of these is a resounding, “yes”. And interestingly, chart patterns are nothing more than the principles of supply and demand at work, with a healthy dose of human fear and greed.
For example, the Head & Shoulders pattern is probably the best known and most reliable of all major reversal patterns. As the name implies, the pattern forms what appears like a “head” with a left and right “shoulder.” The Head & Shoulders Top is formed quite logically if you think about it. The completion of an uptrend completes the left shoulder and left-half of the head, whereas the beginning of a downtrend completes the right-half of the head and the right shoulder. A Head & Shoulders pattern, therefore, signals a change in trend.
Does the Head & Shoulders pattern ever fail? Of course it does. All patterns fail at times. But fortunately, built into every valid chart pattern are quantifiable stop loss points and price projections. The nine patterns in CPR are among the most time-tested and reliable. When CPR identifies a pattern, the Expert Commentary will instruct you precisely where to place protective stops, and what the expected price move is. The Expert Highlights clearly mark and label the patterns for visual inspection on your chart. The Expert Alerts warn you when an entry or exit position is warranted. And the Explorations allow you to quickly screen through thousands of securities looking for patterns, entry signals, and exit signals.
CPR attempts to remove the enemy to statistical technical analysis (i.e., subjective human emotion), and allow you to objectively incorporate chart patterns into your trading strategies.
Is it recommended that you follow these signals blindly, without incorporating your own judgement and experience? Absolutely not. This product has not matured enough to do this. Maybe there will come a day. But as you will see as you learn to use these tools, chart patterns can make significant improvements to your trading.