Hi, Thanks for your response... Chart Patterns trading existed from a long time.. But like many other indicators, chart patterns is NOT a holy grail either. In my book, I wrote "There are no perfect chart patterns and chart patterns do fail..." Given that, as a trader you must have an idea to make a trade. You observe the price-action and form an opinion of a buy/sell decision... Pattern analysis is one of the idea type.. There are many other types of analysis.. Of course, some one else thinks opposite of your ideas and creates a market to trade.. Your confidence in a pattern comes from your trading experience and back-testing of why price "stops" at a level and reverses or why certain conditions play well repeatedly... I am sure market-psychologists can explain better than I am... No trader should accept or "trust" any indicator/pattern without understanding and experiencing the potential possibilities and probabilities of a "trade idea." I have traded patterns successfully for over 12 years and am certainly biased about 'chart pattern trading'... but i have also seen other traders who use many other types of analysis and do equally well... kind regards, suri