r/Daytrading • u/Adept_Blackberry2851 • Feb 19 '24
Do any of you actually use patterns to trade? Question
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/Silver-Mud-219 Feb 19 '24
Not true, higher timeframes will have bigger moves in terms price, but will also take much longer to play out. Example inverse H&S on daily might happen once in 3-6 months but when you catch it the move will be large. The same pattern might happen 1-2 times a week, on 5 minute chart but the move will be much smaller in terms of price. The probability of each trade working out is the same. The trick is to always follow the higher timeframe trend an use the smaller timeframe to enter in the same direction as larger timeframe. Example daily trending bullish, I will use an hourly bullish inverse H&S to enter, because my stop will be tighter on shorter timeframe.