Pattern recognition is the key to becoming a successful chartist. Through practice and experience the best chartists have seen the same pattern thousands of times. It is all about noticing, but what is it that the chartist must notice?
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Notice the patterns that give you an edge.
Notice the patterns that make you money.
Most importantly, patterns emerge from the past. Yet we must look to the future.
The patterns you see today must make you money in the future. It is of utmost importance that the pattern you trade is adapted to the current environment. A breakout pattern that pattern recognition tells you is exactly like thousands of other successful patterns is meaningless in a range bound market that thwarts eighty percent of breakouts.
Know the pattern, but more importantly know the pattern that works in the current environment.
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