Patterns Can Change Their Reliability
I have been a price pattern trader for 30 years and have learned their reliability of following the past as expected can change.
The basics of price pattern recognition are several and a few here.
Price patterns reflect the cumulative knowledge of the instrument traded in the time frame used.
Price pattern recognition assumes a similar outcome of the pattern in the future based on the past results of the pattern.
Once you have learned the pattern, the pattern creates your belief in the future.
Price patterns are a picture of the beliefs and expectations of those creating the pattern. Those expectations change faster in lower time frames.
Without greater knowledge of what changes patterns' reliability, you may start to believe that pattern recognition doesn't work when a pattern fails.
In my upcoming presentation, I will share with you the details to use price pattern recognition in bull and bear markets.
Sign up. I will deliver the education you need in today's market!
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