"Not a Guarantee: No trading strategy is foolproof. It’s important to combine the strategy with other forms of analysis and risk management techniques."

In principle, this means that this strategy is as worthless as any other technical analysis strategy. The problem lies not in the strategies themselves, but in the belief that there is a strategy that "works profitably." Nothing works if the mind behind it does not work. Technical analysis is a supplementary tool and by no means a prediction.