Thanks for replying alvseek.
For the name of the discussion I meant that it is more important to focus on trades that are profitable instead of easy to trade J However, in connection to your question about the patterns. The probability for a figure/pattern, particularly head and shoulder, to reverse the trend is stated as 85% in the books J I don’t think it is time costly to open twenty charts and figure out whether there are patterns such as double-top or head and shoulder. They are very easy to be spotted. Also, if there is divergence and you see the figure in different timeframe the chances increase drastically.
I am attaching one screen shot of a recent trade that I took according to the reversed head and shoulder on silver
http://i40.tinypic.com/346oosy.jpg
For the name of the discussion I meant that it is more important to focus on trades that are profitable instead of easy to trade J However, in connection to your question about the patterns. The probability for a figure/pattern, particularly head and shoulder, to reverse the trend is stated as 85% in the books J I don’t think it is time costly to open twenty charts and figure out whether there are patterns such as double-top or head and shoulder. They are very easy to be spotted. Also, if there is divergence and you see the figure in different timeframe the chances increase drastically.
I am attaching one screen shot of a recent trade that I took according to the reversed head and shoulder on silver
http://i40.tinypic.com/346oosy.jpg