ansesfj focus more on yourself and your trading, don;t worry about people here. you are on the right track. the concept of trading breakouts from open price is old, very old and is robust because it used to work 200 years ago and is working even today. just respect risk, be disciplined and focus on managing the positons.
+1, this is really cool, but i think it takes a while for one to identify the patterns that work and others that's simply noise. that's always a hard part and i do notice cases where when looking at charts one can suspect a bearish move coming up even if the pattern isn't identical to any in a known history. i think we are able to instinctively identify likely similar situations as one trades along. they don't necessarily follow a 'fixed' pattern. e.g. at stock market tops i noted W, butterfly, gartley formations. The formations vary and look different from one to another but that we can easily identify W, butterfly, gartley formations and we instinctively figure that after a long up trend these formations are probably signs of volatility and could hint on a large bearish move. there is scientific evidence that volatility is not independent, i.e. volatility tend to cluster e.g. on stock indexes like s&p 500, this makes markets predictable after all
There is no noise. All day long institutions are buying and selling. In broad and narrow ranges and channels. On every bar there are institutions buying and selling. Money can be made on almost any bar. Of course it can be lost too ROFL. Example: MOST WERE SHORT TRADES BUT TWO LONG ONES ALL WITHIN APROX THE FIRST 1.5 hours of the open. POINT IS THERE IS NO NOISE. ONLY TRADING. ES 5 min chart