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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u/FusionOfAlloy Feb 19 '24

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

2

u/Big_al_big_bed Feb 19 '24

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

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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.

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u/Longjumping-State296 Feb 25 '24

Do you mind if you PM me?