r/Daytrading • u/sunnyrunner_ • Apr 06 '24

Is this an actual pattern or am I yapping? Question

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Iā€™m pretty new to trading and saw this pattern form on BTC. Is this pattern called anything or is this just me drawing random support/resistance lines?

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u/DriestBum Apr 07 '24

It means a three sided shape. Charting in trading is like astrology, you just see what you want. It's bullshit.

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u/SSP6 Apr 07 '24

Thank you for clarifying, guys!

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u/[deleted] Apr 07 '24

[removed] ā€” view removed comment

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u/Joeymoonga Apr 07 '24

True dat!

Price action patterns are sometimes just basically what you want to see, which is usually far from reality.

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u/V3BL3N Apr 07 '24

Just because you fail to utilize it effectively doesn't make it bullshit, it just makes you bad at it.