A lot of patterns. How will we pick up the best one ?
Andre_Cardoso
⋅
As you already should know, you will ony trade them once they get completed. And where are you seeing "a lot" of patterns? ;) Daily Published Chart is we have 2 patterns, one already running/completed, and other that can get completed above the first one, to get there i show an example of an ABCD pattern that can form after this corrective move (my red channel).
The next chart (picture) is a 2h chart and it show's 3 patterns, one bullish, the butterfly, and 2 bearish patterns - the best to pick? The first to get completed, IF...
waterman
⋅
Thank you so much for your kind guidance. I got the idea. We cannot enter and travel to D now itself as pattern is more than one. Once D is reached we can safely enter.
Andre_Cardoso
⋅
yes, but we need also price action confirmation once on those "D" zones, we need reversal patterns on lower timeframes, i also use RSI divergence with overbought and oversold conditions, i do not use the "default" values for RSI. I do use an 80/20, that way allow's me to "enter" the market after "extreme" oversold or overbought conditions. Those patterns do not work just because... we still need price action...