the best way to learn about patterns is to read about them, find them in past charts, and look for them in live charts in many timeframes, every single day or as much as you can, for at least 1 to 5 years.
Yes, me. I'm offering some available for license too. No bites yet.
Basically I'm working with the M&W and ABCD - very often these patterns are trend retracement patterns, sometimes trend reversal. They are objective, drawn by computer (literally drawn by price), and can be used in automated systems.
I'm trying to establish these patterns with a new 'nomenclature' as Swing Patterns, since that's what they are. Any help with that is appreciated.
In general, the best way is to 1) learn the rules for pattern id, then 2) study charts of just price on a non-trading day. Learn the targets based on pattern dimension (e.g. Peak of Head to neckline projected from neckline for H&S) and see if they appear valid or could stand improvement. Try to identify 20 or more of Double Top/Bottom, Head & Shoulders, and Asc Des Sym Trianngles. Flag Pattern is good. Get really fancy and track the performance of each pattern or even their dimensions. Essentially - spend time with charts once you know what patterns you're looking for.
Reading books, forums can help, especially at first. Best Way ultimately is practice
I find chart patterns become alot clearer when I take away all the noise. Renko charts make all patterns stand out much clearer, as does using something like wave charts/zigzag indicator.
Then with practice they do become clearer. the number of times I see reversal patterns (head and shoulders in particular) on all time frames is amazing. Thats my favourite one, and like I say, Renko helps me tremendously