What is your most profitable pattern?

This is a discussion on What is your most profitable pattern? within the Technical Analysis forums, part of the Methods category; Originally Posted by Purple Brain Are these levels support and resistance, moving averages, fibs or some combination thereof, or something ...

View Poll Results: My most profitable pattern is:
H&S 2 6.06%
Flag 3 9.09%
Pin bar 4 12.12%
Triangle 3 9.09%
Something else 14 42.42%
I don't trade patterns 5 15.15%
I trade against them all the time 2 6.06%
Voters: 33. You may not vote on this poll

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Old Apr 2, 2013, 3:56pm   #113
Joined Sep 2010
Re: What is your most profitable pattern?

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Originally Posted by Purple Brain View Post
Are these levels support and resistance, moving averages, fibs or some combination thereof, or something else entirely?
Just basic support and resistance. I ditched all the moving averages and indicators back in my early days after one day when RSI, Bollinger Bands, MACD and moving averages were all screaming at me to buy, so I did and the price still kept dropping. A day or two later, all the indicators and moving averages were back to "normal" but the price was still well below where I entered the trade.

Of course that's just normal behaviour for indicators and moving averages in lagging behind the price, I just didn't understand that at the time. I don't doubt they have some value but it annoyed me so much I never even bothered with them since.

I may have exaggerated the story a little bit, I can't remember exactly which indicators they were but I remember seeing the RSI at about 7 and thinking there's absolutely no way price can go any lower!
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Old Mar 14, 2014, 1:00am   #114
Joined Mar 2014
Gartley pattern, especially if it occours with a confluence of some other pattern or important Fib ratio.
Example: http://marketchartpattern.com/forex/...13-march-2014/
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