ilmscore | The Complete Chart Patterns Course (From Beginner to Profitable)

The Complete Chart Patterns Course (From Beginner to Profitable)

Published: 2024-03-20
Status: Analyzed

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Prediction
Topic
Status
Certain chart patterns, commonly perceived as effective, are actually traps that can lead to losses, particularly for beginner traders.
"I will share with you guys some chart patterns that many Traders say work well but they can actually be traps leading to losses especially for beginner Traders so make sure to you know pay extra attention to these patterns"
Chart Patterns (General)
Pending
Uncertain chart patterns will lack a clear direction and type, making them very difficult to trade and are generally to be avoided.
"these patterns will not have a clear Direction and many times they will also not have a clear type so these patterns can be super hard to trade and most of the times these are patterns that I try to avoid"
Uncertain Chart Patterns
Pending
While textbooks classify the symmetrical triangle as a bullish continuation, it more often results in sideways price movement or insignificant breakouts, resembling a normal move within a trading range, and is best avoided.
"in most textbooks they will say that this pattern should lead to an uptrend... but you will probably find even more examples when this pattern turns out to just lead to the price going sideways... I personally avoid these patterns because so many times s this breakout right here will turn out to not be significant and the breakout will actually be a normal move within a simple trading range"
Symmetrical Triangle Pattern
Pending
The broadening range pattern is uncertain in direction and type, making it very difficult to trade. It frequently results in sideways price movement within a range and is recommended to be avoided.
"for this pattern I actually have both the direction uncertain and also the type uncertain... this pattern is super hard to trade... just as with the symmetrical triangle these broadening ranges will often turn out to just lead to the price going sideways in pretty much a range fashion... my general recommendation here is to avoid these patterns"
Broadening Range Pattern
Pending
Continuation patterns are typically smaller in size compared to reversal patterns.
"continuation patterns are often uh you will notice that they will often be smaller compared to the reversal patterns"
Chart Pattern Sizes
Pending