What is Best way to learn Chart Patterns?

[somasekar]

I am looking to learn Chart patterns for last 1 month, read lot of articles and examples and still unable to analyze on real charts for tomorrow.

What is the best way to learn Chart patterns? is there any recommended books, trainings for the same?

 

[trendie]

what kinds of patterns are you referring to?

you could start by just looking 2 or 3, and acquire familiarity.
then add new patterns 1 by 1.

dont try to look for all the patterns in one go as a beginner, you will get confused and frustrated.

 

[somasekar]

Thanks trendie. Yes, i would start with one and slowly add one by one as there are lot of patterns.

Currently I am foucssing on Cup and Holder pattern.

is there any patterns that you suggest to start with?

 

[counter_violent]

Search engines really are your best friend. Whatever words pop into your head, write them down then search at leisure.

Chart patterns.

Chart Patterns - ChartSchool - StockCharts.com

 

[FringFX]

What is the best way to learn Chart patterns? is there any recommended books, trainings for the same?

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.

 

[easttrader]

I am looking to learn Chart patterns for last 1 month, read lot of articles and examples and still unable to analyze on real charts for tomorrow.

What is the best way to learn Chart patterns? is there any recommended books, trainings for the same?

there books of steve nison about japan candlesticks patterns - very helpful

 

[x4x]

Probably the best and most comprehensive....

http://thepatternsite.com/index.html

 

[Shakone]

I think the best way to learn about patterns is to not attempt to learn about them.

 

[R.Charnock]

I think the best way to learn about patterns is to not attempt to learn about them.

Yep. Your time can be put to much better use.

 

[intradaybill]

I think the best way to learn about patterns is to not attempt to learn about them.

I disagree to agree. The best way is to learn them and fade them. Anyone still using them?

 

[natureboy]

Anyone still using them?

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.

 

[natureboy]

Fading patterns is definitely worth looking into, also

 

[SybilCut]

The best way to learn patterns is to actually watch your trades that you are in already.

What I mean is take a simple system, whether it works or not is irrelevant. Just watch the market and the system and everything.

It helps a lot when patterns are contstrained to a small piece of the markets like the indicators of a system etc.

 

[natureboy]

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

 

[malaguti]

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