Chart patterns + S&R trading

Hey!

This thread is going to be a place for everyone to share pattern trading, with an added emphasis to Support and Resistance. It is a simple and clear strategy which doesn't rely on any indicator at all. I think it is good for newcomers to stop focusing on finding the right indicator set and just trade naked following the simplicity of chart pattern trading and support and resistance. As any good strategy this will work on any timeframe, but remember that the higher the timeframe the more reliable the patterns and support and resistance are.

I will start by sharing with you the different type of patterns that exist and then I will post some chart examples. I don't trade like this, I follow a scalping system which relies on a couple of indicators like pivot points and oversold and overbought conditions, but I think that if one masters pattern trading you can outperform any other mechanical system. I think that trading this way can have its benefits as it allows you to focus more on PRICE the most important aspect on any chart and less on how an indicator which relies on price data is reacting. Plus, support and resistances are on the chart since YEARS ago, so they are non repainting and you can know them in months in advance.

This thread will help me also myself to learn more about patterns, a trade following them feels very rewarding and fun. Trading while the pattern forms and dynamically identifying it is amazing.

There are no rules here, just be respectful and everyone can contribute what he wants.

Everything can be traded here such as forex, futures and stocks.

It is useful if you post if you post you own clean chart for the sake of being clean, but if you want to post with indies you are welcome too.

Here are the patterns we will be focusing:

Schulter, Kopf, Schulter

Sorry I'm making something funny
Trading can also be fun

Pointless thread.....It's all been done before.

There’s no thread exclusively for this way of trading. Tomorrow I will post chart examples. I think this thread belongs more to interactive trading though.

How chart patterns fail:

They take too long. Let's face it. I'm not waiting for a shs to come out through the woodworks.

They don't mean anything. That's right folks, I'll give you all the statistical data right here, right now. NO BS. EVERY SINGLE THING YOU SEE IN THE MARKET CAN HAPPEN AND HAPPEN DIFFERENTLY, EVEN IF IT'S THE SAME. How cool is that? 50% retracement of a swing, we've seen it all, has happened and it leads to different things. You can absorb that information and play with different parameters, if it fits your paradigm until you're very much aware that it's just futile. The cycle is something like this Trader: let me fix these parameters so I don't have to risk too much >> Boom system cannot handle anything, really.
Trader: "time to readjust parameters" WTF
Again knowing things, patterns or statistics doesn't make anything happen. It's just not organic enough to be in line with a naturally complex system.

That's just the problem with adjusting parameters, it's probably the most time people spend on in regards to working with the problem, but leads to the less results. And people continue to do it.

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nobody has to act accordingly
who recognizes and acts it is in the advantage
Always remember what the market is giving you
Greed is the biggest loss

Hello Nensur
A question, wanted to see your charts as your trade is.
Did you write yesterday, we are very curious, so that we can exchange information.

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wirklich aktuell

GOOD Stuff ..Kette i like it.. really is what its all about..first thing i do every day.. but you much better than me..Thks

Thank you for contacting someone here

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