📘 Lesson 4: Classical Chart Patterns

📍 Part 5: Pro Tips for Trading Chart Patterns

✅ 1. Use Confirmations

Don’t rely only on the pattern. Use indicators and volume for confirmation.

✅ 2. Wait for Candle Closures

False breakouts are common. Wait for the candle to close outside the pattern before acting.

✅ 3. Avoid the Middle

Don’t trade inside the pattern. Wait for breakouts or retests of key levels.

✅ 4. Set Accurate Targets

Most patterns offer price targets. Use the height of the pattern to estimate moves.

✅ 5. Always Use a Stop Loss

Protect your capital with stop losses placed below/above the pattern.

✅ 6. Practice Pattern Recognition

Backtest on historical charts to sharpen your skills.

🟩 Summary

🔹 We covered all major classical chart patterns: reversal, continuation, flags, wedges, and trading tips.

🔹 This was a deep dive lesson to strengthen your technical analysis skills.

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