QuoteDislikedPatterns are useful, but just looking at the 4 waves are a waste of time in my view. Support and resistance, trend lines, volume, when did the pattern form? These are all factors to take into account. Ahh yes and pivots. I will post an example to show what I mean. Also forget a pattern on a Friday afternoon, you won't get a reaction. In the morning stick to break out moves.
well to a certain level i agree. i dont blindly take patterns, i combine mine with trend analysis. but pattern formed at key level of higher time frame will give u profit almost everytime.
4HR time frame patterns are very reliable!
If u ask me, wot do i mean by trend analysis, take a look at my erugbp analysis and see wot i mean...................................