he3

Do chart patterns work for all time periods?

COINBASE:LTCUSD   莱特币/美元
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No. At least I dont think so. This is a one hour chart and what looked like an upward wedge to me. I expected a upwards breakout, with maybe a pullback to the resistance line. But no, it broke down as you can see.
Which leads me to question. Is there any good chart patterns for short time periods?
评论: Update: I think it is an ascending triangle (not a wedge) because the top line is flat.
My mistake calling it a wedge, where both lines would be ascending, but compressing. That would be bearish.
Here is a good read on the 'vs.' of the two:
https://stockcharts.com/articles/decisionpoint/2015/04/whats-the-difference-between-an-ascending-wedge-and-an-ascending-triangle.html
1h charts allow for some TA. I wouldn't be looking for patterns much smaller than that except if you want short term resistance/support lines.
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upward wedge is an ascending wedge or rising wedge which is bearish
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he3 Mad_GraceUSA
@Joshny923, You are correct! Thank you for pointing that out. But doesnt the flat line on the top mean it really is an ascending triangle? (bullish breakout because bulls keep piling on each time it hits the top resistance)
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Thanks...
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