Funny you should bring this up. The answer is yes, along with other strategies. However, I've just recently decided that I'm going all out pattern attack. They have such a good success rate with those that I use, that I'm going to now make pattern trading my core strategy. Targets and stops are easily identified. So, I'm also interested in others peoples view, although it's not going to change my thoughts.
I think that the sistem based on pattern is more comfertable because the attitude risk/reward more succes. It's simple to identify the candle moddel on the chart. And they are more robusstness . But the first problem with this thing is to find this on the chars.It is can be not simple occupation. I think that the understanding behaviour of the people in the critical situation can help. But I while search the pattern like a reiterative candle moddels. I do this work with wealth-Lab. The good place there you can find the good archives about this is http://www.dacharts.com/index.php.. Opinion? From Russia with Love
Okey..And the interest question to all. This may raise the interest to this.. What happend with price of the stock then they cross the price 5 dollars from top to bottom? What reason of this phenomen?