The Chart Pattern U Look for the Most?

[Ammeo 10]

Which Chart pattern u follow the most in your trading?

[TheDude 10]

The witches pentagram. It's a lesser known formation that is used by floor traders. It works 80% of the time with a risk:reward ratio of 1:3

 

To spot it you need to use MACD, RSI, OBV and 2 candlesticks, thus forming the 5 sides of the pentagram. It works like magic!

 

It occurs 4 times a day in most markets.

 

I would tell you exact details, but I paid an ex-floor trader $2000 for his e-book which comes with an NDA that you are not allowed to disclose it to anyone.

[equtrader 10]

I think it doesn't matter what you look for the most but works better the most. The only way to find that out is through testing. Daniel at mechanicalforex.com recently created a program to look for patterns that satisfy some performance criteria based on the work by Michael Harris who has developed an algo that achieves this. This approach moves the trader to the next level away from visual identification and into quantitative analysis. Only then one can compete on a plain level field with hedge funds and other quants.

[Ammeo 10]

The witches pentagram. It's a lesser known formation that is used by floor traders. It works 80% of the time with a risk:reward ratio of 1:3

 

To spot it you need to use MACD, RSI, OBV and 2 candlesticks, thus forming the 5 sides of the pentagram. It works like magic!

 

It occurs 4 times a day in most markets.

 

I would tell you exact details, but I paid an ex-floor trader $2000 for his e-book which comes with an NDA that you are not allowed to disclose it to anyone.

 

Which trading instruments it works on? Can it be used on stocks or only forex?

[natureboy1618 10]

ABCD and MW - trade with trend, buy low sell high. These patterns (and a few others) get you in near the turns in price, thus allowing better R:R