I am trying to learn These price patterns and just try to see what you all think of the chart below from the experts at spotting them. Good, bad, Dont quit my day job lol. I went ahead and got into this one on my demo I was a little late on entry but still a one to one R/R. I entered 2 lots (yellow line) my stop is the red line above the yellow. I have a profit target at the red line below the yellow line to cash out 1 lot. And then I will move my stop to break even (I tend to get greedy there and move into profits but not to far :27:) and trail it from there. Just looking to see if it is a decent strategy. Or is there more to trading price patterns.
There is more and on the other hand there is less.
Less - looking at your chart, I’d say you’ve got too much going on and probably trying to automatically identify patterns with an indicator, stick to identifying a couple or three basic patterns, and drop the indicators.
More - use more S&R and look at Fib levels.
I think you have the potential to develop a decent strategy from where you are.
The indicators have nothing to do with the trade they are used for a different strategy. I am just trying to spot harmonic price patterns but I do see what you are saying might be better to remove them that way I am not looking for something that fit my indicators so to speak. However I will keep looking into this as price did hit my target last night sometime for a gain of about 70 pips. Not bad at all. Thanks for the advice I will give it a shot.