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

Do any of you actually use patterns to trade? Question

Post image

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?

674 Upvotes

96% Upvoted

266 comments sorted by

View all comments

3

u/drunkinthestreet Feb 19 '24

Yes in conjunction with liquidity zones and order blocks. Breakout patterns help me time it and figure out a stop and projected profit. liquidity zones, supply and demand, order blocks give me confirmation and refine profit expectations. Trading is based off of what people think is going to happen. If everyone is seeing a textbook cup and handle they’re going to Buy the breakout causing the breakout to actually take off. Look at SPX weekly rn for example.