Intraday Technical Patterns - Traders Laboratory - Active Traders Forum | Thread profile

I was listening to an interview by Peter Reznicek today and found one of his comment particulary interesting. I am not a candlestick pattern trader but he mentions how day traders focus too much on trendline breaks, channel breaks, and candlestick patterns on too short of a timeframe. He mentions how these technical patterns are only valid on a 15 minute or more timeframe...

Quote: torero Hi walterw, Can you elaborate on that a little bit more? Here's my example of what I was talking about using patterns with price action: Like I said before, patterns need to be confirmed by price action, in this case, lower higher and that turned the support area into resistance area (...

He's a riot. I listened to him almost every morning for months...he's a bit too intense for me to listen to, though. ShadowTrader.net is him. He NEVER looks at anything below 15 minutes except for the opening 5 minute. Most of the time the stuff is right on, but he's strictly a stock guy. Doesn't care for futures. I do look at trendlines to play sometimes, and use ...

I will have to disagree with him and YOU, soultrader! (jk). I think patterns are extremely important, especially for me to find targets. Most people think it's useless but it's my guide to understand and calculate risk and reward. Simple as that. True that the patterns become less and less reliable as the lower the timeframe you are, but so is every other indicator on the ...

I think that more than patterns, you should be aware on what MAKES the pattern... thats more powerfull... looking inside a pattern and what forms it... not just a pattern by itself but what its behind... cheers Walter....

Hi walterw, Can you elaborate on that a little bit more? Here's my example of what I was talking about using patterns with price action: Like I said before, patterns need to be confirmed by price action, in this case, lower higher and that turned the support area into resistance area (this is what I call confirmation of a breakout). My stop would have been the...

Hello everyone, This is one very interesting thread. I think I am the only one here that employs 1 min. candle bars to pin point my entry on certain trades. As far as intra day pattens go, there are a few that I have seen that work very well and consistently over and over again when they appear. Using these along with the pivots and tape reading ( that I both learned from...

Quote: torero Hi walterw, Can you elaborate on that a little bit more? Here's my example of what I was talking about using patterns with price action: Like I said before, patterns need to be confirmed by price action, in this case, lower higher and that turned the support area into ...

15min is a life time for a scalper. A man on a radio show opens his mouth, probably never made dime trading on any time frame, and speaks his wisdom. These sort of comments have no value. Price action "time frame" is relative to trading style of an individual and has no relation to the success or failure of a trader.

15min is a life time for a scalper. A man on a radio show opens his mouth, probably never made dime trading on any time frame, and speaks his wisdom. These sort of comments have no value. Price action "time frame" is relative to trading style of an individual and has no relation to the success or failure of a trader....