8 Minute Read

Tackle Today: Pattern Recognition

April 21, 2020

By | 2 Comments

When you look, what do you see?

When reading a chart, there are lots of things you need to look for. Trends, candles, price action, support and resistance are all a part of it. But pattern recognition is one of the most important skillsets to embrace. Do you quickly identify patterns like triangles, flags, retracements, head and shoulders and such?  If so, you are probably a trained trader.  If not, you probably do, but do not yet know how to label or identify them.

Pattern recognition is not that difficult, but it does require a relaxed and trained eye. The more charts you look at, the quicker you will be able to identify patterns as they develop. When done correctly, they can help you determine the timing of your trade, predict future price movement, forecast probability, and prepare us to intelligently make trades.

If you are a skilled, veteran trader, you probably can pick up patterns quickly.  If you are a beginner, start with the basics. Use the chart of the day to reference when you are looking at charts and see if you can pick up on the patterns that are developing.


Chart of the Day

Price Patterns


Video of the Day

Trading Concept Check: 1 2 3

Core 1-2-3 trading pattern is the key to increasing the Probability of Profit. Trend, patterns and setups like the 1-2-3 pattern setup can improve the probability of profit for directional trades.


Today’s line up

Traders Lounge 11 AM EST

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Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.


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2 Replies to “Tackle Today: Pattern Recognition”

  1. Kerk LeBlanc says:

    Great blog,
    Thanks

Comments are closed.

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