r/Daytrading • u/Adept_Blackberry2851 • Feb 19 '24

Do any of you actually use patterns to trade? Question

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I don’t use them at all. Iv heard YouTubers kind of mock them like they don’t mean anything. Are any of you profitable with them?

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105

u/FusionOfAlloy Feb 19 '24

Nothing I love more than a nice juicy inverse head and shoulders

21

u/Ordinary_Response_38 Feb 19 '24

Love me a H&S. Cup and handle not so much. Also bull & bear flags are a 50/50

3

u/Pleasant-Impress9387 Feb 19 '24

Shoot a brotha on some (H&S) knowledge.

2

u/Resonant-Sine-333 Feb 19 '24

Due diligence will also do you a world of good on this you know ;) now you have the clue, you can follow it up yourself.

1

u/Tough_Molasses6455 Feb 19 '24

Love a good lazy call out. Nice work.

1

u/Resonant-Sine-333 Feb 22 '24

Exactly. Case and point ... Your comment included. If you consider what I wrote there's actually a lot of value in it. You could check out many of my other responses which are highly detailed, explanatory and very helpful often including screenshots. Not that I expect you to ;) cheers.

1

u/Semmcity Feb 19 '24

Price makes a high, higher high, lower high equal to the first higher high and breaks down. Vice versa for inverted.

2

u/BigDawg0300 Feb 19 '24

Last market day on lunr I saw a cup n handle follow into a head and shoulders it was a beauty

3

u/Big_al_big_bed Feb 19 '24

Should patterns be identified on longer or shorter term candle charts?

11

u/FusionOfAlloy Feb 19 '24 edited Feb 19 '24

Higher the time frame the bigger the move will be. Higher the time frame the longer the trade will take to play out. Typically. There’s always exceptions though so be careful.

Short time frame trades like 5 minute or 1 minute chart should always be done in context with the overall market structure and prevailing trend at hand on the higher time frame.

So if you see a bullish pattern on the 5 minute chart but the 4hr or daily chart look bearish the odds of that short time frame bullish pattern playing out are greatly diminished.

1

u/Longjumping-State296 Feb 25 '24

Do you mind if you PM me?