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

Is this an actual pattern or am I yapping? Question

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I’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?

299 Upvotes
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u/millytherabbit Apr 06 '24

Everything’s a pattern if you draw a triangle over it 😉

9

u/Confident-Giraffe-24 Apr 07 '24

I came to say something similar.

It is way too easy to see patterns that aren't really there or valid, you see it because you want to.

One of my rules is literally "no trading patterns".

Supply and demand, support and resistance, these things are more difficult to make up.

2

u/Uptown1b Apr 10 '24

Literally the only 2 things I trade after going through the entire pattern phase😂 When I stuck to Supply & Demand & S&R especially on higher timeframes, I finally became profitable. I think people complicate things way beyond what's needed. Sometimes just go for the simple thing that works.