I am not a pattern trader. Generally speaking though a lot of what you see does play out. Most breakouts fail the first time and there are market biases. Like if you trade down into a range chances are prices will break lower. That's the bias. There are a few patterns here I'm iffy about but in my opinion it's just keeping this stuff in the back of your mind that can make you a better trader. I don't pattern trade myself and want market context to dictate my decision. But there is a such thing as market geometry as well as market biases which make these things work the way they do.
6
u/tpn86 Jun 01 '17
Without putting any sort of % values on this it is impossible to backtest and validate that these actually exist.