Any tips to identify Partterns easily

I am a newbie, I just started Demo trading. Any tips on how to identify forex patterns like a Pro.

Start with one that is of a fairly small number of bars/candlesticks, which is quite common and simple. See for an exhaustive list.

Search your charts just for that one. recognise that in practice all patterns have variable factors and contexts and an important decision after recognition is how flexible you wish to be in your definitions of patterns. So will you only admit 100% accurate replications of the pattern or will you allow a little bit of variation in the formation.

A major question in this regard in forex chart TA is what to do about close-to-open gaps. Apart from the weekend gap between the NY close on Friday and the Asian open on Monday morning there are rarely any significant gaps in forex. Yet many classic candlestick patterns depend on an open which is way off from the prior close, maybe even outside the prior day’s range. This alone makes use of classic candlestick patterns in forex without modifiers more unreliable than the text-books say they should be.

Start with

Congrats and good luck in your trading journey bro!

I am no expert in this, but from my personal experience i will tell you this.
First of all, it’s impossible to remember all chart patterns, there hundreds of them and they appear all the time on all time frames etc.

Find your preferred time frames for trading, and just stick to a few chart patterns that you feel the most comfortable with, and with enough screen time you will start recognizing patterns in the first 10 seconds you look at a chart.

At the end of the every pattern is just a reaction from an infliction point.


Is there anyone on here who consistently trades ‘patterns’ and is profitable??

Oh wow. That site takes me back to the 1990s. :flushed: Bookmarking it though!

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The looks are horrible, but the advice is actually very good :slight_smile:

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With the wide variety of trading styles, choosing the most common ones can save you a lot of time, money and effort. By using the simplest and most popular methods, you can design a complete trading plan to easily identify price patterns. Graphics, including Ichimoku and Japanese candles, can give you visual clues about the best times to operate. Although these methods can be complex, there are simple methods to analyze their most representative elements.
There are different methods of finding market entry and exit points with Forex graphic patterns. Some of the best known, such as head and shoulders and triangles, can be easily found and show points to enter and exit Forex. On the other hand, the enveloping pattern shows that possibly the price direction will change along with points to take advantage of a nascent trend. As for the Ichimoku cloud bounce, it is more practical in long-term trends, as it shows several entry points and different stop losses. You can create your own trading system by combining all these patterns and methods.

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Thanks. Checking it out

Thanks for your insight Pip-Skywalker. I know with time I will get better.