The easiest way to recognize consistently powerful patterns is to focus on just a few ticker symbols, rather than the large universe of tickers that have options trading activity associated with them.
If you follow one or two ticker symbols that have high volume options activity, you’ll begin to recognize the technical patterns that jolt prices into motion, and you’ll greatly increase your skill and confidence!
By contrast, if you keep looking for new ticker symbols, you’re unlikely to develop the focus required to understand the nuances of the patterns associated with any one stock or index.
The most profitable patterns look the same, whether they are long term or short term. The differences between short-term and long-term chart patterns are in the duration of the expected price move.
A one-minute chart, for example, is not capable of producing a long-term price change. But even one- and five-minute chart patterns can produce great percentage returns; it’s...
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