anyone trade Patterns anymore?

E

executioner

head and shoulder? rising wedge?ect...back in the day that was the "in thing"..i have'nt traded a pattern in a while,although there are some intraday patterns i use for my day trades..i guess its a self fullfilling prophechy.
 
Yes, very much so with the exception of a few instruments on very low time frames and high volatility. For these I use range charts or in extremes...no charts at all.
 
i trade price patterns and volume only, although not really any of the "classic" patterns. get most ideas (stocks to watch) off the daily charts, then look for entries (patterns) on the intra charts.
 
If you are looking for a specific pattern, you are going to see it, even if its not there. Humans will see only what they want to see. Therefore, trading patterns won't work. Relative strength/weakness is the only thing good traders need to rely on. Remember: charts only tell you about the past...anticipating momentum based on relative strength combined with good entry points put the odds in your favor.:confused:
 
Quote from tradewhisperer1:

If you are looking for a specific pattern, you are going to see it, even if its not there. Humans will see only what they want to see. Therefore, trading patterns won't work.
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that is a pretty broad generalization don't you think? especially when most people would agree that trading boils down to being a game of pattern recognition. doesn't have to neccessarily be a visual price pattern. anyone who isn't throwing darts when they are trading is trading some type of system, and all a system does is give a trader a heads-up that the market is setting up a higher probability of prices moving in one direction.
 
Patterns yes...although it is not the patterns that I trade its the price action although...the patterns are included in that....for h&s no...it comes around seldomly and most of the time dont work...about only 40% of the time it does.
 
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