Chart patterns repeat themselves over and over in different stocks throughout time. After trading from some time and being able to get that market eye, that feeling, that edge, etc., technical trader can identify a certain pattern and establish an entry price as well as a stop loss price. The advantage of technical analysis is that it provides specific entry and exit points for a trader to obtain the best risk reward while limiting the risk and determining profit taking areas.
As I continue to develop the site and add additional information, I plan to create a repository for personal charts I have observed on a daily basis which depict certain patterns. Keep in mind im no bad ass like other traders around the tradernet, even those that claim to know it all but really don’t know jack! I have come to understand the markets, technical analysis and have put in my time. Trading is a journey of constant learning and I don’t plan to stop any time soon!
For the time being, I’ll provide a few links below to external sites with basic information on chart patterns to get those of you who want to learn the basics started.
The following link is to a site which is straight forward and explains some basic chart patterns which I tend to use alot like wedges, triangles and flags:
As time permits, I will continue to add recent examples of actual stocks as I see them.