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reading bar chart patterns
- Thread starter arzoo
- Start date
Rather than buy a book on charting, I plugged into Bedford & Assoc., went into the education area and printed out everything they had there on charts. I'm relatively new to trading but thought it very good info. Information includes the why's and wherefore's of the pattern, what to look for etc. and how to know if the pattern is real. I use the info as a general rule, not hard and fast. Backtest before you incorporate.
I use the 3 & 5 minute time frames for a long view of potential chart patterns. The tick chart for up close viewing of breakouts etc.
Head & shoulders can be seen, 1-2-3's all over the place, even saw the tea cup form and took advantage of it. Lots of good info. I use patterns along with volume and resistance/support. It works for me.
I use the 3 & 5 minute time frames for a long view of potential chart patterns. The tick chart for up close viewing of breakouts etc.
Head & shoulders can be seen, 1-2-3's all over the place, even saw the tea cup form and took advantage of it. Lots of good info. I use patterns along with volume and resistance/support. It works for me.
You may also find the following to be a good educational resource. Even though most of the articles involve stocks, the principals can be applied to any market.
http://www.hardrightedge.com/tw.htm
Charles
http://www.hardrightedge.com/tw.htm
Charles
daytraderpete,
most of my trades are taking the trend on the intraday, but every now and then i do scalp specially i notice the day is in a range.
i guess my question is more on reading the 'tape' through what the bars show you. in reviewing charts recently, i've noticed i missed some hesitation moves in the direction of the trend early in the morning, which is why i'm trying to figure out how to take those moves by recognizing when the bars show strength or weakness.
most of my trades are taking the trend on the intraday, but every now and then i do scalp specially i notice the day is in a range.
i guess my question is more on reading the 'tape' through what the bars show you. in reviewing charts recently, i've noticed i missed some hesitation moves in the direction of the trend early in the morning, which is why i'm trying to figure out how to take those moves by recognizing when the bars show strength or weakness.