Part 4/7:
The video asserts the importance of recognizing recurring patterns in the market. These patterns are vital for creating effective trading systems.
Your Pattern Playbook:
Market Conditions: Determine whether you are in a bullish, bearish, or ranging market.
Market Phases: Understand the current trend phase, be it a pullback or a continuation.
Support and Resistance: Recognizing these levels allows traders to time their entry and exit points effectively.
Deceleration Indicators: Identifying moments when momentum wanes gives a trader insight into potential reversals.
Candlestick Patterns: Recognizable patterns can indicate buyer/seller strength and market sentiment.