Here on the NZDUSD we have a Bearish bat formation that has completed...for some of you. I say for some of you because it technically did not hit the D completion level, however, some of you may still have gotten involved if you decided to "Front Run" your orders.
Dude seriously? I can't consider the trader who is using harmonic tactics as a real/professional trader. Why don't you explain what is going on behind all those crappy bats, sharks, dogs? We need real picture....
electronicbits
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@foxtrod89, Haha agreed
Show me a trader that has lasted for years trading those type of rubbish patterns and then I can start believing on them. But so far, those patterns do not present any statistical relevance.
Akil_Stokes
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@electronicbits, If you don't like patterns, simply don't trade them as part of your trading strategy. Problem solved.
@foxtrod89, That's the cool thing about the markets, there are so many techniques and strategies that can be used to make profit. If you don't like a particular one, simply don't use it. Patterns are created do the buying and selling actions in the markets when positions are being either accumulated or distributed (depending on the pattern). But you've already made up your mind that something you haven't tested doesn't work, so there's no need to waste time explaining any further.
shakeosm
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@foxtrod89, I am new to trade and have heard a lot about Pattern trade. They are not the ONLY key thing, but one of the many. What would you suggest from your experience? Just trying to gather some idea!
Akil_Stokes
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@shakeosm, I would suggest learning about the basics of price action. Whether you plan on being a structure trader, trend trader, pattern trader, mechanical system trader, etc. It all starts with knowing and mastering the basics of reading a price chart and understanding price action
Akil_Stokes
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@shakeosm, Crap I'm sorry, I just realized that your question wasn't for me. Apologies. Just saw the notification & assumed it was.
shakeosm
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@Akil_Stokes, thanks for your answer. no worries! That's fine! I use price action, too...