A study to assess the validity of Michael Joe Huddleston’s technical analysis concept (ICT Power Of 3) in the foreign exchange market

Abstract

Sick of the scummy "trading gurus" that pry upon new market entrants and subsequently encountering "The Inner Circle Trader" on YouTube, I decided to test his "ICT concepts" more deeply after some superficial backtesting and forward-testing. In this research project, I dived into the price action data of 14 forex pairs over a period of 21 years, and the results have tremendously boosted my confidence in the concepts developed by Michael Joe Huddleston, whom I have come to accept as my mentor. I understand the skepticism around his concepts and made this project to help the new, uninformed "retail, dumb money" make more informed decisions who want to indulge in forex trading and are looking for the Holy Grail - the "perfect" forex trading strategy.