1 The Story
The man who put numbers on the patterns
Thomas Bulkowski did what classical charting rarely had: he measured. His Encyclopedia of Chart Patterns reports historical success rates, average moves, and failure rates for dozens of formations.
Born in 1957, Bulkowski worked as a hardware and software engineer (Raytheon, Tandy) before earning enough from investing to leave his day job at 36. Starting in the mid-1990s he began publishing pattern research, culminating in the Encyclopedia of Chart Patterns (2000). He runs ThePatternSite.com and has written well over a hundred articles, with 40+ years trading experience.1
2 The Big Idea
Patterns, measured
Evidence instead of folklore
For each formation — head-and-shoulders, double tops, flags, triangles — Bulkowski reports break-out direction odds, average gain/loss, and how often the pattern fails.
It is the closest thing classical charting has to a statistical reference, and a useful antidote to pattern over-confidence.1
3 The Method & Contribution
What his work adds
Success rates
Historical odds that a pattern breaks the expected way, by pattern type.1
Average moves
Typical gain or loss after a confirmed break — useful for setting expectations.1
Failure rates
How often each pattern disappoints — the number most traders ignore.1
Honest framing
Bulkowski stresses these are historical tendencies, not guarantees — context still matters.1
4 See It On This Site
Chart patterns, explained on this site
Go deeper
Our Chart Patterns deep dive draws on Bulkowski-style evidence to give an honest read on which patterns earn their reputation.
5 The Work
His key contribution in print
Encyclopedia of Chart Patterns
Thomas N. Bulkowski · Wiley · 2000- A statistical reference cataloguing dozens of chart patterns with measured outcomes.
- Translated into many languages; a standard on every charting bookshelf.
6 Read More
Go deeper
§ Sources
- Thomas Bulkowski — biography & pattern statistics — ThePatternSite; Encyclopedia of Chart Patterns (Wiley), Internet Archive.