Chart Patterns Don't Work?

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AriaS

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Two reasons why chart patterns probably don't work
  1. Please imagine 2 charts of today - 1h chart and 1.5h chart. Would they look the same? We simply arbitrary decided to divide the day into 24 hours. If we divided it into 16 hours, one hour would include 90 minutes. And then our 1h chart would look completely different. So, the patterns of which chart should you go by?
  2. Can you imagine that the price of a Google Stock would move according to its chart patterns? No, because you know that its price is moved by the forces of the market - supply and demand, not by the chart patterns. Then why would the prices of currencies move by their chart patterns? Simply because of lots of traders follow them? Most trading is done by the Banks and multinational corporations. Do we really believe they follow chart patterns?
 
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