Price Action's most powerful tool: pattern recognition

Price Action (PA) is the most powerful indicator to read charts and predict price movement. Attached you will find the PA indicator.

More info:
https://www.tradeciety.com/trading-p...ction-secrets/
https://www.netpicks.com/how-to-use-an-indicator/
https://tradingsim.com/blog/price-ac...ng-strategies/
https://www.tradingview.com/chart/AU...rns-That-Work/

My experience:
1. The EUR/USD chart only consists of M patterns. Each M is in a different font, so you cannot rely on volume, length and amplitude (VAL) but rather the pattern recognition.
2. Trade in the direction of the pattern.
3. If the direction of the pattern changes, you change as well. Go with the trend.
4. Usually the first leg and fourth leg (of the M) are bigger.
5. The second letter 'M' is usually smaller (M m M m M m)
6. Don't trade previous M's on the same timeframe
7. Trading the third leg of the letter M (in the direction of the main trend) is saver than the other legs.
8. Check the M pattern on: a) the price chart b) and other indicators (i.e. oscillators)

How to make profit:
1. pattern recognition: read the pattern, understand where you are inside the pattern, the legs of the same M pattern are usually of similar format.
2. use the font recognition techniques. Can anyone send a link with research of how to recognize a character (i.e. M letter) in different sizes, shapes, fonts?
3. as robots become more modernized they are able to read handwritten characters better. Which techniques do they use?

Please share your own experience.

Attachment g

On your 2nd chart, this type of horizontal rangy market is my favorite because of the clarity of support & resistant level, although I am a trend based trader.

I agree, the clearer the S/R, the higher probability trades. Though fake breakouts are hard to avoid, how do you deal with this concept? Do you also look at M patterns in your charts? If yes, how do you recognize when the 'leg' of the M pattern has finished? I hope you'd like to share your experience

In this case, I use buffer; means I set my SL & TP with few more pips behind or above the support and resistant level.

using supply and demand from those wick areas is what i do not in forex but principle is the same kudos

Thank you. I appreciate it. I see, yes you can increase your SL/TP, but the step before you take this, you need to check if there is a fake breakout. How do you check it?

Thank you. I really appreciate your wisdom and experience. I see, you prefer another perspective to give you an edge with the same principle as wick areas. Could you give more details about your method? I really appreciate it. We could all understand it better.

I did a video on plan the trade thread

Can I find your video here? https://www.youtube.com/results?sear...plan+the+trade

Congrats on the video. It deserves way more views. I always look at the wicks in EUR/USD trading, and in my experience the wicks do not match with your wick system. That said, I wish I could trade like in the video