I see a lot of traders following classical chart patterns . Being a pattern follower myself for some years , here is my advice to them as I feel some pointers will improve their accuracy . Again , this is not the only correct way but what I have learnt from my experiences
1. Volume confirmation is a must. Without the volume rules being fulfilled , there is no importance to the pattern
2. Understand where the pattern is taking place within the major price structure of the index/stock. An inverse head and shoulders bottom reversal occurs at market bottoms , not at market tops
3. If a pattern is valid, it will leap out at you from the computer screen
Read more at https://threadreaderapp.com/thread/996619500840632320.html
1. Volume confirmation is a must. Without the volume rules being fulfilled , there is no importance to the pattern
2. Understand where the pattern is taking place within the major price structure of the index/stock. An inverse head and shoulders bottom reversal occurs at market bottoms , not at market tops
3. If a pattern is valid, it will leap out at you from the computer screen
Read more at https://threadreaderapp.com/thread/996619500840632320.html
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