I don’t actively seek to find patterns on my higher timeframe.
But sometimes they just stand out as so obvious that you can’t miss them.
So I watch them for potential trade opportunity around the edges of the pattern structure. Usually for two alternatives – a breakout failure or a breakout pullback.
Of course, in either case the trade idea must make sense from my usual trading timeframe analysis. And also make sense in accordance with my philosophy on price movement and where & how it creates opportunity.
Keep an eye out for them. They can provide good opportunity.
Happy trading,
Lance Beggs