I always say "possible" with my counts and patterns because trading is a game of probabilities and not certainties. Keeping this in mind helps me keep my money management in check.
I choose to use 8Hr candles for 2 main reasons. 8 Hour candles tend to follow within reason, the three global time financial sessions. So candle formation is quite "readable" and continuation or reversal patterns immerge nicely.
Case in point, here is an identifiable ending diagonal. I remember my first aha moment identifying the pattern. A friend labelled it the Old Woman's Shoe!
So is this a possible trend change? Or just a correction?
I choose to use 8Hr candles for 2 main reasons. 8 Hour candles tend to follow within reason, the three global time financial sessions. So candle formation is quite "readable" and continuation or reversal patterns immerge nicely.
Case in point, here is an identifiable ending diagonal. I remember my first aha moment identifying the pattern. A friend labelled it the Old Woman's Shoe!
So is this a possible trend change? Or just a correction?
