my point is after learning from thousands of books about Head and shoulder, Inverse head and shoulder ..... we have to unlearn / delete what we have learned & decontaminate our minds. then develop our own holy grail.
Like golf, agreed, bad habits have to be first unlearned. Not in agreement that a double bottom pattern with documented stats of a couple hundred occurrances will create bad habits. I propose to you that by performing due dilligence, in this case documented and screenshots of sufficient numbers of occurances, mistakes and bad habits are avoidable. Rabbits and habbits, both seem to multiply, lol. If the noob is too lazy to take stats? First Bad Habit if technical analysis is on the docket, for sure. If a noob is too lazy to take stats on a blood simple clear setup, they will have one hell of a good time with the more esoteric methodology, it would seem to me. Then more esoteric trading will escape that noob for a Long and Painful expensieve soul sucking journey, imho. What's your noob to do? Where's a noob to start? You have a great perspective. Pass some along... Where did your journey start to gain traction in the profit column. What milestones of progress appeared in your trading beyond unlearning bad habits?
I would suggest some folks here educate themselves on chart patterns Intraday patterns occur throughout the day in shorter timeframes. Intraday H&S patterns are very profitable, this time of year the indexes spend 70% of their time intraday range-bound. Inside the range, patterns emerge. Try and stick with bullish reversal patterns, this market is rising, trade in the direction of the trend.
Technical analysis isn’t a crystal ball. It’s more like a wind sock. Giving you a sense of which way the wind is blowing.
Did you catch this one based on your pattern? And how did you know to avoid the two smaller such patterns that didn't work out within the larger pattern that did?